The latest batch of Q2 2025 results make it clear: Debit cards are no longer optional add-ons, they are central to how FinTech platforms lock users into an expanding bouquet of services, offering a tie-in to lending and banking tools to branded checkout experiences.1) Block’s Q2 2025 earnings presentation noted Cash App’s gross profit rose 16% year over year, driven in large part by Cash App Card, alongside Borrow and BNPL initiatives. Their shareholder letter further emphasizes accelerating user engagement and gross profit per transacting active, up 15%, with 26 million Cash App Card actives. The company has indicated that, as detailed in the latest shareholder letter, debit is holding appeal for younger consumers, as active customers “under the age of 25 have higher Paycheck Deposit attach rates and a 40% higher Cash App Card attach rate compared to the rest of our customer base. 2) Affirm’s Q2 earnings supplement confirms growth in the relatively new Affirm Card, a Visa-issued debit card, with transactions routed via the card versus typical checkout flows. Affirm Card active cardholders surged 97%. Card gross merchandise volume (GMV) grew 132% to $1.2 billion. In-store spending on those cards grew 187% year over year. 3) Klarna’s F-1 report confirms enhancements to the Klarna Card, including real-time transfers and deposits, as part of its U.S. rollout, enhancing the “smarter wallet experience.” Marqeta’s card issuing platform powers the Klarna Card debit card that will allow Klarna customers in the U.S. to use the same card to pay immediately or pay later. The F-1 stated that Klarna Balance, introduced last year, “allows consumers to Pay in Full or make Pay Later payments without connecting a bank account or a credit or debit card and facilitates the growth of cashback.” 4) PayPal’s results indicated that debit card total payment volume across PayPal and Venmo expanded over 60%, and monthly active debit accounts jumped over 65%, reflecting robust adoption as the company added 2 million first-time debit card users in the U.S. 5) LendingClub’s Q2 earnings report highlighted the launch of its LevelUp Checking account, while offering deposit and debit-like capabilities that enhance its lending ecosystem. CEO Scott Sanborn explained that adding checking functionality helps embed LendingClub deeper into consumer financial lives, supporting ecosystem expansion. LevelUp Checking offers customers 2% cash back for on-time loan payments made from this checking account and 1% cash back when using the associated debit card for qualifying purchases, according to company materials.