The Velera Payments Index June 2025 — A Deep Dive into Rewards and Loyalty

Summary: While the pace of growth has slowed compared to previous years, consumer spending remained positive in May 2025 – with debit outpacing credit in both purchases and transaction volume. Consumer confidence increased in May, supported by low unemployment and steady job growth, even as economic uncertainty lingers due to ongoing tariff negotiations. In this month’s edition of the Velera Payments Index, we explore how evolving loyalty and rewards behaviors vary across generations, and why understanding these preferences is critical for credit unions aiming to stay top of wallet.