Debit gives banks and FinTechs a view into how consumers manage the cash they have available.

Saved cards are changing what it takes for a new debit card to become part of a customer’s daily spending.

Spivakovsky says financial technology should give cautious consumers greater visibility, flexibility and control.

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A consumer does not have to stop spending to become more careful about money.

Debit spending offers a closer look at how consumers are balancing everyday expenses with travel and entertainment, according to Max Spivakovsky, senior director of global payments risk management at SoFi Tech Solutions.

“Debit really deserves its own spotlight,” Spivakovsky told PYMNTS. “It shows us how people are managing their available cash that they actually have in their accounts right now.”

SoFi Tech Solutions’ Q2 Debit Spend Index offers examples of the decisions taking place inside that spending. Grocery trips increased by close to 13% from the first quarter, while the average amount spent per trip fell 3%. Fuel spending rose 28%, while travel spending increased 21% and spending on experiences rose 23%.

Spivakovsky described the grocery behavior as consumers “managing their cash flow by shopping more but buying smaller baskets.” Yet higher spending on travel and experiences suggests households were still making room for discretionary purchases while absorbing higher essential expenses.

For financial institutions, the value lies in seeing how those choices are knit together.

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