SoFi Tech Solutions Q2 Debit Spend Index: Seasonal Spending Drove Big Gains Across Travel and Experiences as Gas Prices Hit Four-year High
EVERY INDEX CATEGORY GREW IN Q2 2026: TRAVEL SPEND UP 21%, EXPERIENCES UP 23% WHILE FUEL OVERTOOK GROCERIES AS THE LARGEST SHARE OF ESSENTIALS SPENDING
SALT LAKE CITY–(BUSINESS WIRE)–
Debit spend and transaction volume rose across every category tracked in the Q2 2026 SoFi Tech Solutions Debit Spend Index, as seasonal spending drove big gains across travel and experiences. The index from SoFi Technology Solutions (NASDAQ: SOFI), formerly Galileo Financial Technologies, draws on millions of anonymized and aggregated transactions processed on its platform, offering a quarterly snapshot of debit spending by category and payment type.
The Q2 index movements reflect seasonal and economic impacts on spending, including, gas prices at a four-year high, a build-up in early summer travel, and a return to theaters, stadiums and attractions.
Key Q2 debit spending trends:
- Fuel reshaped the essentials basket: Fuel spend grew 28.2% from Q1 2026, accounting for nearly half of all growth in essentials spending, and overtaking groceries as the largest share of essentials spend. A surge in global oil prices sent U.S. gas prices to a four-year high early in the quarter. Average spend per grocery transaction fell 3.1% over the same period.
- Seasonal travel spend grew heading into summer: Travel spend grew 21% from Q1 2026 on 17.4% more transactions. Airline transactions grew 10.7%, about half the rate of car rentals (+22.2%) and below hotels (+17.7%).
- Experiences led the index: Spend on movie theaters, attractions, sporting events and other entertainment grew 23% from Q1 2026 on 23.2% more transactions.
- Subscriptions cost more per charge: Subscription spend grew 8.5% on 6.1% more transactions, lifting the average recurring charge 2%, while subscriptions eased to 16.1% of tracked debit transactions from 17.2% in Q1 2026.
“In Q2, debit showed up everywhere from the gas pump to the airport to theaters and stadiums,” said Kathleen Pierce-Gilmore, President of SoFi Tech Solutions. “Saved cards also became the index’s most-used debit payment method, underscoring just how embedded debit has become in consumers’ daily lives. For banks, fintechs and brands, every place a customer uses or stores their card creates another opportunity to deepen the relationship through relevant rewards, offers and partnerships.”
The experience economy led Q2 2026
Experience spend grew 23% from Q1 2026 on 23.2% more transactions:
- Movie theaters: Spend was up 92.9% on 84% more transactions, coinciding with the start of summer blockbuster season.
- Tourist attractions and exhibits: Spend increased 43% in line with seasonal trends and warming weather.
- Sporting events: Transactions were up 50% and spend increased 42%, in a crossover season that closed out NBA and NHL postseason play, opened major league soccer, baseball and women’s basketball, and saw the FIFA World Cup kick off in June.
The index findings reflect a broader pattern also seen in Deloitte’s ConsumerSignals data: everyday prices remained elevated even as discretionary spending intentions rose through Q2.
Saved cards became the most-used debit payment method in Q2 2026
The SoFi Tech Solutions Debit Spend Index tracks types of spend and how debit payments are made. In Q2 2026, card on file — a debit card saved inside another app or account — carried more debit transactions than any other payment method for the first time in the index, and accounted for a larger share of the dollars by a wide margin:
- Saved cards accounted for 25% of Q2 2026 debit transactions and 30.5% of debit dollars, the largest share of any payment method on both counts and the largest value share by 11 percentage points.
- Saved cards added 1% of transaction share from Q1 2026, while tap-to-pay gained the most ground of any method (contactless NFC +2 percentage points). Overall digital share eased to 62.4% from 63.6%.
View the full Q2 2026 SoFi Tech Solutions Debit Spend Index.
About the SoFi Tech Solutions Debit Spend Index
The SoFi Tech Solutions Debit Spend Index is based on anonymized, aggregated debit transaction data processed through the SoFi Technology Solutions platform during Q2 2026 (April, May and June). Data covers transactions across 300+ Merchant Category Code (MCC) classifications. Quarter-over-quarter comparisons measure Q2 2026 aggregate against Q1 2026 aggregate. April-to-June comparisons measure June against April as single months. Fix-It Season and technology are new categories in Q2 2026 and report monthly movement only. The index reflects transactions processed on the SoFi Tech Solutions platform and is for informational purposes only. It is not intended to forecast or indicate forward-looking expectations. No individual cardholder data is identifiable.
About SoFi Tech Solutions
SoFi Tech Solutions, formerly Galileo Financial Technologies, is the financial technology provider connecting banks, fintechs, and brands with innovative banking, processing and embedded finance capabilities to help people get their money right. This division of SoFi delivers modern digital solutions that are cloud-native, developer-friendly and regulation-ready powering exceptional, customer-centric financial experiences across North and Latin America.
©2026 SoFi Tech Solutions, LLC. All rights reserved. SoFi Tech Solutions, LLC is a technology company, not a bank. SoFi Tech Solutions, partners with many issuing banks to provide banking services in North and Latin America.
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