KUBRA's 2022 Digital Wallets Guidebook identifies why and how consumers are using digital wallets and uncovers some of the obstacles billers face in increasing adoption.
TEMPE, Ariz., Aug. 30, 2022 /PRNewswire-PRWeb/ -- KUBRA, a leading provider of customer experience management solutions for some of the largest government, utility, and insurance entities, released a new research report that reveals current consumer preferences and behaviors around digital wallets and explores the roadblocks that billers need to overcome to increase adoption for bill payments.
"The pandemic triggered a change in how we shop and pay, removing many of the adoption barriers facing digital wallets and solidifying them as a top payment choice for many consumers," said Shaun Jackson, Senior Vice President of Marketing at KUBRA. "Digital wallets are paving the way for the future of payments, and billers need to understand the importance of offering them to their customers if they want to continue to meet customer expectations," added Jackson.
Key findings of the 2022 Digital Wallets Guidebook include:
Digital Wallet Use Is Surging - Consumers' use and appetite for digital payments are growing. In 2022, nearly seven in 10 consumers used a digital wallet, and more than half of consumers indicated they would consider using digital wallets for bill payments in the future.
Consumers Use Digital Wallets Because They're Convenient, Easy-to-Use, and Save Time Convenience is a driving factor behind the popularity of digital wallets. With payment information stored securely on their devices, transactions are streamlined, allowing consumers to pay quickly and easily.
Billers Need To Drive Awareness and Increase Digital Wallet Adoption - Many consumers aren't using digital wallets because their billers either don't offer them or they don't know they're available. Creating targeted educational marketing campaigns that explain how digital wallets work and their benefits, including the convenience, ease of use, and time they save, will help increase adoption. Increased demand is adding pressure on billers to expand their payment options to include digital wallets.
About the Survey
The survey was written and conducted by KUBRA using the SurveyMonkey online platform. Respondents were sampled at random, and the survey received a total of 1,042 responses. To be qualified for the survey, respondents had to be living in the United States, over the age of 18, and self-identify as the person responsible for paying their household bills and services. Key demographics such as age, gender, income level, and state of residence were tracked to ensure that the survey responses did not become skewed and represented a broad overview of the United States population. The survey was completed with a 3% margin of error.
About KUBRA
KUBRA provides customer experience management solutions to some of the largest utility and government entities across North America. Our portfolio includes billing and payments, mapping, mobile apps, proactive communications, and artificial intelligence solutions for customers. With more than 1.5 billion customer interactions annually, KUBRA services reach over 40% of households in the U.S. and Canada. KUBRA is an operating subsidiary of the Hearst Corporation. Visit https://www.kubra.com for more information.
Media Contact
Alison Copeland, KUBRA, 480.584.3041, [email protected]
SOURCE KUBRA
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