Explore consumers’ readiness to try new payment methods, such as online bank transfers, for making payments.
We conducted a census-balanced survey of 2,466 U.S. consumers from May 25 to May 30, 2022 to measure consumers’ experience with and expectations from online bank transfers and other payment methods.
Our guide offers insights into the evolving landscape of consumer payment preferences and its impact on merchants. It explores the shifting dynamics in payment methods, including the rise of digital payments, contactless transactions, and alternative payment options. The guide delves into consumer behaviors and expectations regarding payment experiences, emphasizing the importance of convenience, security, and choice.
52% of US consumers tried a new payment method in the past year, while 39% lack the awareness of pay by bank transfer security.
By understanding these preferences, merchants can tailor their payment strategies to meet the needs of their customers effectively, driving satisfaction and loyalty. Further, the guide provides actionable recommendations for merchants looking to optimize their payment offerings and adapt to the changing preferences of today's consumers.
As the payment landscape continues to evolve, staying informed about consumer preferences becomes crucial for merchants seeking to remain competitive and enhance customer experiences.
Download to learn:
- US consumers' familiarity with and interest in new payment methods
- Why the interest in online bank transfers is growing
- How to overcome consumer concerns around using online bank transfers
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