When it comes to payments, U.S. consumers choose from a number of options and they have a specific option in mind when they walk into a merchant’s store. Often, ticket size can be the primary determinant. Cash is still used extensively for smaller-ticket purchases.
BOSTON (PRWEB) August 15, 2019
Mercator Advisory Group’s latest Primary Data report, Payments, ATMs, and Prepaid: Cash Still Has Its Place, is the based on the company’s 2019 Customer Merchant Experience Survey. The online survey of 3,000 U.S. adult consumers, which was conducted in March 2019, explores consumers’ merchant experiences as they shop in-store, online, and via mixed channels. The survey was designed with the goal of defining and highlighting consumer expectations for optimal experiences with merchants.
This second of three reports on the survey’s findings looks more specifically at the emerging behavior patterns of customers as they shop in-store, online, via mobile. The report’s analysis of the findings offers insights on payment behavior with traditional and newer methods, the use of mobile wallets and conversational commerce, gift card purchasing and usage, and the impact of in-store ATMs on spending and store visits.
Pete Reville, Director, Primary Research Services, Mercator Advisory Group, the author of this report comments, “When it comes to payments, U.S. consumers choose from a number of options and they have a specific option in mind when they walk into a merchant’s store. Often, ticket size can be the primary determinant. Cash is still used extensively for smaller-ticket purchases. Another interesting insight from the survey results is the decrease in the use of conversational agents (e.g., Siri, Alexa, in car voice solutions) since last year’s survey, which suggests that, for some consumers, payment via conversational interface it hasn’t lived up to expectations.”
Among the findings highlighted in this survey report:
- Four in 10 U.S. consumers currently use a mobile wallet.
- Credit cards are often the most method of payment, followed closely by debit cards
- Among those who have used an ATM in a store, the majority report that they use of withdrawal at the ATM to purchase more and visit the store more often.
- Security and/or anonymity compel consumers to prefer to login as guest and enter their card information when shopping online.
- Consumers are more likely to buy reloadable GP (GPR) cards and e-gift cards for themselves and GP gift cards and retailer gift cards as gifts.
Companies mentioned are: Affirm, Android/Google, Apple, Klarna, PayPal and Samsung.
Subscribers to Mercator Advisory Group’s Customer Merchant Experience Survey have access to these reports as well as survey crosstabs, PowerPoint slides of the report exhibits, and the option of requesting custom queries from the survey data.
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.