For the seventh year in a row, we surveyed a representative sample of approximately 1,200 U.S. consumers to identify and track important trends in payment behaviors and attitudes. Respondents were required to have at least one credit or debit card to participate in the study.<\/p>\n
Insights from the study offer a valuable consumer perspective, allowing financial institutions (FIs) to make more informed decisions about product offerings, channels for customer communication, and marketing programs. FIs that invest in creating increasingly positive experiences for their customers across the distinct phases of the cardholder life cycle will be rewarded with increased engagement along the way.<\/p>\n
This year, we took a closer look at emerging payments. This includes peer-to-peer payments (P2P), also known as person-to-person payments. We also included artificial intelligence (AI)-enabled personal assistants \u2014 such as Amazon\u2019s Alexa and Google Home \u2014 to assess this technology\u2019s potential influence on the shopping experience.<\/p>\n
Mobile is changing the way businesses operate and continues to shape the payments landscape. Consumers\u2019 choices remain heavily influenced by their use of smartphones, allowing them to perform almost any task, anytime, from anywhere. From banking apps to customer loyalty programs, consumers expect to engage with FIs through digital experiences and increasingly on mobile devices.<\/p>\n
While emerging payment technologies and mobile payments provide people with more choices than ever before, traditional payments remain highly relevant. Debit, credit, and cash continue to be consumers\u2019 preferred ways to pay. In fact, consumers are increasingly holding two or more credit cards, most likely sparked by their love of rewards programs, and the adoption of mobile devices to handle life\u2019s everyday needs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Monitoring the fast-changing technology landscape \u2014 and how consumer behavior is evolving as a result \u2014 is critical to improving the customer experience. That\u2019s why as part of this year\u2019s U.S. Consumer Payment Study, we tracked consumers\u2019 key attitudes and behaviors around payments.<\/p>\n","protected":false},"featured_media":50528,"template":"","meta":{"pmpro_default_level":"","tdm_status":"","tdm_grid_status":""},"product_brand":[],"product_cat":[2355,2347],"product_tag":[3475],"class_list":["post-75761","product","type-product","status-publish","has-post-thumbnail","product_cat-digital-banking-en","product_cat-study-library","product_tag-2016-2020","pmpro-has-access","first","instock","shipping-taxable","product-type-external"],"yoast_head":"\n