Eye On Payments 2023

Digital Dominates Consumer Consciousness as Generational Differences Peak

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Key Takeaways Include:

Mobile wallets further stake their claim as a go-to payment method.
Differences among payment preferences and usage between the oldest and youngest generations reach an apex.
In the aftermath of bank collapses and amid economic uncertainty, a majority of consumers report concern about personal finances.
Card design and rewards drive usage.

Explore Key Demographics With New Personas

Persona: Rewards Enthusiast

Mary is a 67-year-old retired woman who lives in Alabama. She is married, and her household income is around $50,000-75,000 annually.

She receives rewards on her credit card only, and those rewards are very important in her card use. In fact, Mary believes strongly that rewards make her want to use her credit card more. She enjoys a cash-back reward and also earns points to use for online shopping.

Mary trusts her financial institution, with which she most often engages face-to-face by visiting a branch.

Key Stats from This Year's Study

4 in 10 use mobile at POS

of Gen Z like payment variety

of consumers have used BNPL

Rewards drive card usage for 6 in 10

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