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Data for today’s episode is provided by Mercator Advisory Group’s Report: 2021 U.S. North American PaymentsInsights: The State of the Consumer Market – Prepaid/Gift, Credit, and Debit Cards
Preferred Method of Authorizing In-Store Debit Card Payments:
- 74% of debit card users prefer to authorize their debit payments by entering their PIN.
- In comparison, just 10% of debit card users prefer to authorize their debit payments by signing their name.
- 8% of debit card users have no preferred method to authorize their debit payments.
- 7% of debit card users say no extra step is necessary to authorize their debit payments.
- 1% of debit card users prefer to authorize their debit payments with another type of authorization.
Mercator Advisory Group has released a new primary research report titled 2021 U.S. North American PaymentsInsights: The State of the Consumer Market – Prepaid/Gift, Credit, and Debit Cards, summarizing the findings from the Summer 2021 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 prepaid, gift, credit, and debit cards. The report brings together various aspects of consumers’ experience with the different payment methods covered, as well as relevant behavioral habits and attitudes. Readers of the report will get an idea of how consumers use various payment cards, how they view card features, and the challenges that they encounter.
“The past 18 months have seen an unprecedented shift in consumer payment behaviors and attitudes, driven by disruptive factors including the COVID-19 pandemic, product shortages, and the accelerated adoption of online shopping. Tracking and understanding the shifts in consumer preferences is instrumental to planning for the future and creating innovative payments solutions that satisfy consumers’ ever changing needs.” – Amy Dunckelmann, Vice President, Research Operations, Mercator Advisory Group.