Sample Chart
The accelerated expansion of online shopping and the associated rise in card-not-present transactions during the pandemic has led to an increased incidence of fraud events.
BOSTON (PRWEB) August 17, 2021
Mercator Advisory Group has released a new primary research report titled 2021 U.S. North American PaymentsInsights: Subscriptions, Bill Pay, and Consumer Fraud Experience, summarizing findings from the North American PaymentsInsights survey of 3,001 U.S-based adults. The report aims to highlight the key findings from the survey as they relate to consumer experience with subscriptions, bill pay, and fraud. The report brings together various aspects of how U.S. consumers interact with the payments ecosystem to pay for subscriptions and recurring bills, as well as their experiences with fraud in the past year. The report highlights consumers’ experience and attitudes towards various fraud events, which have seen increased relevance with the radical expansion of card-not-present transactions during the pandemic. Readers are presented with summary findings regarding consumer behaviors and inclinations, as they vary across different demographic cohorts of consumers.
“The accelerated expansion of online shopping and the associated rise in card-not-present transactions during the pandemic has led to an increased incidence of fraud events. This makes it vital for card networks, issuers, financial institutions, merchants, and other players in the payments space to update their fraud prevention solutions to maintain consumer confidence in the safety of their products.” - Amy Dunckelmann, Vice President, Research Operations, Mercator Advisory Group.
Highlights of the 2021 U.S. North American PaymentsInsights Subscriptions, Bill Pay, and Consumer Fraud Experience Data Summary Report include:
- Subscriptions to news and magazines as well as software services had the highest share of consumers paying with credit cards, compared to all other subscription types, 55% and 48% respectively.
- High-income respondents were more likely to pay their bills via automatic deductions from credit or debit card.
- 90% of consumers who pay bills believe that their bills should reach the biller within a single business day.
- Young consumers are more likely to experience fraud of all types, with 46% of 18-34 year-olds reporting to have experienced fraud in the past 12 months.
- Most respondents contacted their bank following a fraud incident involving a P2P money transfer service, with less than half contacting the service in question.
Members of Mercator Advisory Group’s North American PaymentsInsights Survey Series Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
For more information and media inquiries, please call Mercator Advisory Group's main line: 1-781-419-1700, send email to media@mercatoradvisorygroup.com.
For free industry news, opinions, research, company information and more, visit us at http://www.PaymentsJournal.com.
Follow us on Twitter @ http://twitter.com/MercatorAdvisor.
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.