We surveyed 6,000 consumers and 2,000 businesses from 20 countries worldwide as part of our ongoing efforts to learn more about how, why, and where consumers interact with businesses online.
The new norm in payments
As consumers accelerated their move online to access products and services to manage their financial lives digitally, their expectations for security, privacy, and convenience have all increased.
Mobile wallets now rival traditional credit card payments In the last six months:
62% say they’ve used mobile wallets
63% say they’ve used traditional credit cards
A need for speed Consumers place a high value on fast transactions. When it comes to payment methods, they value:
Speed
Security
BNPL is here to stay
18% have used BNPL in the past six months
57% say BNPL could replace their credit card
71% perceive BNPL as secure
The reasons for BNPL
Avoid credit card debt:
80% of US consumers
70% of UK consumers
Preferred payment method:
80% of Indonesian consumers
60% of Norwegian consumers
For purchases outside of budget:
60% of German consumers
Where is BNPL most in use?
Norway
Netherlands
Germany
China
Indonesia
Australia
The rise and reach of new payment methods provides businesses with an opportunity to prioritise financial inclusion. These new payment methods give consumers who’ve lacked access to traditional banking, lending, and credit cards additional financial options.
Read the full report to discover:
The new digital consumer
Increased online activity, increased concern
The trust-security connection
A relationship of equals
Digital consumers, digital opportunity
The five things businesses should do
