Experience the interactive Multimedia News Release here: http://www.multivu.com/players/English/7567551-blackhawk-network-payments-study/
The research, "How America Pays in 2015: Traditional, Digital and Mobile Convergence in Payments," surveyed more than 1,000 Americans to examine how they pay today, their preferences for traditional and emerging payments tools and how safe Americans believe different payments tools to be. An infographic detailing the payments research can be viewed for free here.
"Consumers still have a strong preference for traditional payment methods like debit cards and prepaid cards. Those payments tools are not going away anytime soon, even as interest in and usage of new payment methods grows," said
Key findings from the
- Cash, checks, cards still the most used payment methods with select digital offerings close behind: Shoppers used the following payment methods over the last year:
- Ninety-three percent used cash
- Sixty-eight percent used debit cards
- Sixty-eight percent used checks
- Sixty-seven percent used credit cards
- Sixty-two percent used
- Forty-eight percent used retailer gift cards
- Forty-five percent used Visa or
- Thirty-three percent used prepaid debit cards
- Fourteen percent made mobile payments on smartphones or tablets
- New payment methods growing, cash and checks declining: Sixty-eight percent of mobile payment users report that they are using the alternative payment methods more than last year. Cash and checks saw the greatest declines in use overall.
- Gift cards' popularity is significant: Eighty-seven percent of consumers surveyed think merchant-specific gift cards are convenient to use, even higher than bank-connected debit cards (82 percent). Additionally, gift cards are now mainstream payment methods with almost half of consumers (48 percent) using them in the last year.
- Mobile wallets now used by 25 percent of smartphone owners: What do consumers place in their mobile wallets? Sixty-four percent of users have debit cards in their mobile wallets, 58 percent have credit cards and 45 percent have gift cards.
- Cash, cards considered most convenient payment methods; checks and bitcoin least convenient: When asked to select the most convenient payment methods, consumers selected cash (93 percent), credit cards (92 percent),
PayPal(90 percent), and retailer-specific gift cards (87 percent). Ranking most inconvenient were bitcoin and checks.
The research surveyed more than 1,000 American adults in April of 2015. To access the full infographic detailing the payments research, click here.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/how-america-pays-in-2015-300117433.html