Consumer Payment Preferences - US - September 2017
Digital payments continue to garner a great deal of attention within the financial services industry, as innovation and technological advancements continue to push them forward. Consumer payment behaviors, however, are fairly engrained within older consumers. Financial services providers have an opportunity to highlight the security and efficiency of new payment processes, especially with younger and emerging generations who have yet to fully establish how they prefer to pay.
This report looks at the following areas:
Consumers are resistant to change
Credit cards remain most popular, especially for expensive or online purchases
P2P has yet to be adopted by a majority of consumers
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