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Data for today’s episode is provided by Mercator Advisory Group’s Report: Buyer PaymentsInsights: Payment Methods-Consistency and Flexibility
Top Consumer Preferences for Entering Payment Account Information Online:
- Entering card information at checkout as a guest is the top consumer preference for entering payment account information online.
- 40% of over 3,000 surveyed consumers say their top preference for entering payment account information at checkout is to do so as a guest on a website.
- In second place is having a card on file at a merchant’s website, which 29% of consumers prefer.
- In third place is using online payment services on a website, which 16% of consumers prefer.
- In fourth place is using an online payment service in a downloadbale app, which 7% of consumers prefer.
- In fifth place is using a downloadable mobile payment app or wallet used at different stores, which 4% of consumers prefer.
Mercator Advisory Group’s most recent consumer survey report, Buyer PaymentsInsights: Payment Methods-Consistency and Flexibility, from its annual Buyer PaymentsInsights series, examines U.S. consumers’ payment habits while shopping for goods and services in-store and online.
The report, which is based on an online consumer survey administered to 3,003 U.S adults between May 21 and June 22, 2021, covers the buyer experience and includes questions that explore consumers’ preferred payment methods, most trusted payment type for information security, knowledge of cryptocurrency, and many more payment-related subjects.
Various aspects of how American consumers interact with the payments’ ecosystem are brought together to highlight key trends in consumer behavior, preferences, and motivations, influenced by consumer perceptions and experiences with payment-related issues associated with payment options in a rapidly changing payment environment.
Readers will be presented with a detailed analysis of the impact of demographic characteristics on consumer behaviors and inclinations, general consumer trends, as well as actionable insights for industry players to consider.