Let's Talk Payments

MAY 24, 2016

Survey finds that high-income and millennial consumers have the highest credit card usage in income and age categories, and most in favor of paying in installments New York, NY—May 23,

Survey 74

Survey Cards New York Millennials 74

PYMNTS

DECEMBER 24, 2020

Millennials have shown remarkable interest in these solutions, which allow consumers to finance purchases with specific terms when they check out online. Millennials lead in the early adoption of BNPL, especially older “ bridge millennials ,” or those aged 32 to 41 who tend to have more purchasing power than their younger counterparts.

Payments 260

Payments Millennials Survey Trends 260

PYMNTS

DECEMBER 31, 2019

Might the coming year be marked by innovation at the point of sale (POS)? The PYMNTS 2019 end-of-year survey of 30 executives asked for payment-related predictions that could (theoretically) be placed in a time capsule to be unearthed 12 months hence. That shift will be driven, in part, by more card issuance from banks, said Garg.

eBook 170

eBook Millennials Cards Survey 170

PYMNTS

FEBRUARY 20, 2020

Yet, what if these companies extended their presence into banking by offering accounts that improved the way consumers use and manage their credit cards and debit accounts? For the Building A Better App: Banks And The Innovation Imperative Report , a collaboration with Ondot , PYMNTS surveyed more than 3,000 U.S. In fact, 24.3

Cards 146

Cards Data Management Mobile 146

PYMNTS

OCTOBER 1, 2019

The steady drumbeat of tech has brought purchasing from bills and coins to cards and contactless payments – done across all manner of devices and through pushes, taps, swipes and waves, at any time. percent of the bridge millennials and 42.2 percent of bridge millennials were interested, up from 35.4 percentage points to 31.3

Millennials 140

Millennials Payments Study Groups 140

PYMNTS

JANUARY 1, 2021

For the purposes of this exercise, we’re going to describe the “typical” grocery shopper – a bridge millennial, a 36-year-old mom of 1.93 Our shopper will use her card-on-file with her supermarket. This compares to 39 percent who wanted to register credit cards and 44 percent who wanted to register debit cards last year.

Study 362

Study Survey Exercises Cards 362

Bank Innovation

MAY 2, 2016

63% of the sought-after millennials don’t have a credit card, according to a survey commissioned by Bankrate and compiled by Princeton Survey Research Associates International. PayDay Lending, Overdraft Fees, Credit Cards all make money from the imprudent customer.

Fintech 150

Fintech Millennials Survey Lending 150

PYMNTS

SEPTEMBER 18, 2018

And in lending, with the financial crisis in the rearview mirror, a decade on, invention – okay, innovation – has become a hallmark, at least in some corners. Mortgages and Credit Cards and Student Debt…. As many as 66 percent of them have credit cards, and 79 percent of them live paycheck to paycheck. Mortgages ? consumers.

Lending 148

Lending Innovation Fintech Cards 148

PYMNTS

DECEMBER 9, 2019

That’s particularly shocking because surveys now place around 73 percent of B2B decision-makers between the ages of 23 and 38 – and nearly 30 percent of people in this age range have never seen the inside of a bank. Statistical swarms of millennials and Gen Zers report never having used a paper check. Banking on Instant.

Millennials 130

Millennials New York City National New York 130

PYMNTS

DECEMBER 4, 2018

For many consumers, perks are a key driver of their credit card choice, whether it’s airline miles, cash-back or points that can be redeemed for a variety of items. These perks have been an advantage for credit cards, but could that erode as, say, Alipay offers integrated loyalty programs? The Millennials Cometh.

Payments 191

Payments Millennials Cards Course 191

PYMNTS

NOVEMBER 6, 2020

Membership has its privileges ” was the nine-year marketing campaign rolled out by American Express in 1987 to convince consumers that it was worth paying a yearly fee for one of its charge card offerings. Millennials Drive More to Faster Payments . NEW DATA: Five Payments Innovations for Winning the Digital-First Shopper.

Online 148

Online Payments Millennials Apple 148

PYMNTS

DECEMBER 21, 2020

You can see it in how investors are putting money to work in both consumer-facing and B2B startups, and how startups and incumbents are forging new partnerships to move innovation faster to market. Source: PYMNTS.com survey of 2,683 consumers conducted between Nov. Source: PYMNTS.com survey of 7,585 consumers conducted in October 2020.

Apple 227

Apple Study Innovation Survey 227

PYMNTS

SEPTEMBER 16, 2019

And so a sheepherding innovation – and new vocabulary word – was born. In the payments ecosystem, we need look no further than the bridge millennial for how the connected purchasing experience will evolve over the next decade. Analysts pinpoint certain companies as bellwethers for the performance of a sector.

Millennials 222

Millennials Study Course Trends 222

PYMNTS

JUNE 25, 2019

P2P and Millennials. Surveys and other types of reports are taking note of this apparent trend. For instance, according to one report from LendEDU , a student loan refinancing company, about 33 percent of millennials had paid for drugs via Venmo — and that was in late 2017.

Payments 115

Payments Marketing Millennials Trends 115

PYMNTS

MAY 12, 2020

There was a time when consumers did not require much more from their local bank than a checking account, savings account and an ATM card. Consumers are paying with credit and debit cards more than ever before, and they are increasingly looking to their smartphones to gain greater control over how they spend and manage their money.

Regional 241

Regional National Cards Mobile 241

Tech and Finance

JUNE 14, 2018

In a recent blog at Articulate Communications I wrote about the number of surveys that public relations firms send out, and how useless many of them are. I just reviewed my Inbox to see what the recent evidence is…the results are below and include six surveys I have received so far today.

Survey 28

Survey Millennials Fraud Mobile 28

PYMNTS

MAY 11, 2020

That fact is increasingly underlined in a variety of data streams: recent PYMNTS consumer surveys, the earnings reports of the card networks, early information on how stimulus funds are being spent – they all tell the same story of consumers tightening their belts and shifting away from discretionary spending and toward necessities.

Millennials 228

Millennials Retail Groups Survey 228

PYMNTS

NOVEMBER 26, 2018

Amid this market, chains such as Thorntons and 7-Eleven are innovating to meet the needs of modern-day consumers, as companies including GasBuddy and P97, among others, are seeking to make gas station trips more convenient through improved loyalty and reward programs and connected car payments, among other offerings. Almost half – or 49.4

Marketing 153

Marketing Mobile Millennials United States 153

PYMNTS

NOVEMBER 2, 2020

“ Membership has its privileges ” was the nine-year ad campaign launched by American Express in 1987 to persuade consumers that it was worth it to pay an annual fee for one of its charge card products. As the slogan implied, being an American Express card member was the only way to unlock those benefits. Those are the 47 million U.S.

Millennials 246

Millennials Retail Online Report 246

PYMNTS

AUGUST 24, 2018

But playing and delivery methods keep changing, with Ohio of all places — no offense to the Buckeye State, home to multiple presidents and the Wright Brothers’ aerodynamic innovations — accounting for some of the latest developments. Consumers go Buehler’s , Giant Eagle or Kroger locations to buy the lottery card.

Ohio 103

Ohio Mobile Cards South Carolina 103

PYMNTS

APRIL 5, 2018

The most recent PYMNTS’ Gig Economy Index , for example, found that 51 percent of gig workers surveyed in the fourth quarter of 2017 reported being paid within one week of rendering their services. The survey was conducted in November and December of 2017 and included 22 FIs that represent 78 percent of the ACH Network origination volume.

Tools 108

Tools Survey Payments Examples 108

PYMNTS

FEBRUARY 4, 2020

A quick survey of the most recent edition of the PYMNTS Buy Now, Pay Later Tracker indicates that a genuine sea of change is rising when it comes to how merchants want to interact with their customers, and how consumers want to manage their transactions.

Austin 186

Austin Cards Marketing Mobile 186

PYMNTS

FEBRUARY 28, 2019

They pay using Apple Pay, Google Pay , Venmo, a credit card or a debit card. Overall, Griffith said the company is constantly innovating around payment types and checkout speed. To purchase a ticket from the company through LastCall (or in general), users select a listing before they arrive at a checkout page.

Trends 109

Trends Millennials Apple Google 109

PYMNTS

OCTOBER 11, 2018

To serve millennials and other consumers, Wells Fargo launched a mobile banking app called Greenhouse by Wells Fargo last year. To provide more options to its drivers, Uber announced in April that it was launching its Uber Visa Debit Card from GoBank. Eighty-five percent of gig workers would work more often if paid faster.

Payments 150

Payments Mobile Tools Cards 150

PYMNTS

OCTOBER 9, 2019

Payments and other forms of innovation and disruption are taking place as the gig lifestyle spreads across the world and seeps ever further into the daily lives of consumers while becoming more critical to business. Among the main challenges? The reliance on cash in many of the markets served by UReed, Alhassan said.

Regional 122

Regional Trends Cards Millennials 122

PYMNTS

MAY 13, 2019

Also, about half of the younger people surveyed said they prefer ride-hailing apps over taxis simply because the process is easier. We need a system that can set the platform for innovation, while maintaining the high security and resiliency standards Canada is known for.”. There is also a movement away from cash.

Payments 122

Payments Study Survey System 122

PYMNTS

OCTOBER 28, 2019

As he noticed that many of the men back at his office had a hard time putting together corresponding outfits, Southern Scholar also includes a style card that shows consumers head-to-toe outfit options, from business casual to business professional. The Subscription. The company ships out a specific design every month, Wohlman noted.

Millennials 101

Millennials Cards Survey Company 101

PYMNTS

MARCH 3, 2020

Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications. Recent innovations have enabled these machines to perform more functions than ever, including connecting with live tellers at off-site locations via webcams.

ATM 151

ATM Fraud Study Regional 151

PYMNTS

DECEMBER 21, 2016

Americans, especially millennials, are hungry for restaurant innovation. According to a report on restaurant technology usage from Technomic, 79 percent of restaurant customers surveyed agree that technology improves their experience at an eatery. Click here to download the December 2016 PYMNTS.com Unattended Retail Tracker™.

social media 100

social media Survey Retail Technology 100

PYMNTS

NOVEMBER 16, 2020

Across generations, PYMNTS’ research found that 40 percent each of Gen Zs, millennials and bridge millennials (respondents born between 1979 and 1988) say that they either won’t or likely won’t get the vaccine, 25 percent more than those who say they very likely or likely will. The remainder were somewhat likely. Whatever works.

Study 270

Study Retail Millennials Conference 270

CB Insights

SEPTEMBER 10, 2019

While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. But millennials face significant headwinds in making those financial dreams a reality. get the REPORT on next generation investors. From big banks to big tech.

Millennials 77

Millennials Mobile Lending Cards 77

PYMNTS

JULY 23, 2018

Or are the 27 percent of the population — those high-income Bridge Millennials and Gen X-ers with college degrees who are steps away from financial catastrophe — happy, even if they do report feeling more positive about the stability of their financial situation than they did this time a year ago? Are the more than a third of U.S.

Cards 122

Cards Groups Report US 122

Independent Banker

OCTOBER 29, 2014

A consensus says that the future banking customer relationships—particularly for millennial consumers—will orbit to one degree or another around mobile technology. Any number of surveys also show that regardless of contrary news headlines, consumers trust banks most with their payments and identity information. Fees follow.

Mobile 105

Mobile Community Bank Community Technology 105

PYMNTS

OCTOBER 27, 2018

billion on candy and $400 million on greeting cards. More than 31 million Americans plan to dress up their pets this year for Halloween, with millennials leading the pack, so to speak. In short, it’s a product that should not be – and a piece of technicolor proof that not every innovation is a good innovation.

South Carolina 191

South Carolina Payments Virginia Massachusetts 191

NCR

AUGUST 25, 2016

But while its innovative use of augmented reality (and a healthy dose of 90s nostalgia) has helped propel it to front pages, it’s also another example of how smartphones are taking over our lives. The first choice for Millennials. Both surveys also revealed that this dependence on smartphones extends to managing finances.

Millennials 40

Millennials America Survey Mobile 40

FICO

AUGUST 19, 2022

According to a 2022 report by Cornerstone Advisors , the percentage of Gen Z, Millennial, and Gen X consumers in the U.S. In fact, only 12% of consumers are using an automated savings tool from their bank or credit union, based on a Q1 2022 Cornerstone survey. Buy Now, Pay Later. Niche Neobanks.

Fintech 52

Fintech Millennials Lending Tools 52

PYMNTS

SEPTEMBER 6, 2016

Payments had been relatively static with innovation around cash, checks and credit cards. Then, there was sudden exponential growth in innovation. It’s not exactly a newsflash, Jenkins said, that the rate of innovation in payments over the last four years has been fast-paced, transformative and disruptive.

Security 100

Security CA Payments Big Data 100