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Data for today’s episode is provided by Mercator Advisory Group’s Report: Consumer Payment Choice: Understanding Debit Card User Preferences
Frequency of Monthly Debit Card Use:
- 20% of debit card holders use their debit card every day.
- 35% of debit card holders use their debit card a few times a week.
- 13% of debit card holders use their debit card once a week.
- 14% of debit card holders use their debit card a few times a month.
- 6% of debit card holders use their debit card once a month.
- 13% of debit card holders use their debit card less than once a month.
About Report
Mercator Advisory Group’s most recent report, Consumer Payment Choice: Understanding Debit Card User Preferences, pulls from a wealth of primary data to form an overview of the typical debit card user. Looking at consumers who indicate a preference for debit transactions, the report reveals key demographic traits of those most likely to rely on their debit cards.
The report then goes on to explore the many use cases for debit cards, providing insights into the consumer segments most likely to use debit in particular circumstances. Embedded within this analysis are recommendations for debit card issuers and processors intended to support customer engagement and debit utilization.
“85% of U.S. adults have a debit card, spanning across all age groups, income brackets, and education levels. However, differences appear when preference for debit payments is considered. It is critical for issuers and processors to have a solid understanding of who prefers to use debit cards and under which circumstances in order to target marketing and rewards initiatives most effectively,” stated the author of the report, Laura Handly, senior analyst at Mercator Advisory Group.
