TSYS will present the results of its second annual nationwide primary consumer research study in a complimentary webinar on Tuesday, November 13, at 2 p.m. ET. Register for the webinar here.
The 2012 Consumer Debit-Payment Choice Research Study was designed in conjunction with Mercator Advisory Group, a leading payments research and consulting firm, which fielded an online survey and conducted in-person focus groups to gauge consumer payment preferences. The goal of the study was to provide a snapshot of current consumer behavior and attitudes toward debit, credit and emerging payment forms, as well as to gather both quantitative and qualitative information. The results of this study provide trending information as well as a deeper understanding of factors that influence consumer choice at the point of payment.
More than 1,000 consumers who owned a debit card were surveyed on payment choice, perceptions of value, and what might influence them to change how they pay. Key findings include:
- Debit cards continue to be the preferred payment type for everyday purchases, driven in part by the desire of many to manage their money on a near-daily basis.
- Merchant discounts and offers are the most effective way to influence consumers to use a payment type more often.
- Awareness of alternative payment accounts and methods is high, and consumers’ overall understanding of and interest in mobile payments has advanced considerably since last year.
- Consumers continue to be focused on the security, ease of use, control and speed at check-out, and incorporating these features into new or expanded offerings will result in greater consumer adoption.