PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

What Are the Expectations & Experiences: Consumer Payments?

By PaymentsJournal
July 24, 2018
in Industry Opinions
0
3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
consumers

consumers

 

[arve url=”https://www.paymentsjournal.com/wp-content/uploads/2018/07/fiserv-study.mp4″ align=”center” title=”Fiserv Study” description=”Fiserv Study” upload_date=”7/24/18″ duration=”48s” autoplay=”yes” maxwidth=”730″ mp4=”https://www.paymentsjournal.com/wp-content/uploads/2018/07/fiserv-study.mp4″ loop=”yes” muted=”yes” /]

In a recently released report on a survey conducted by Fiserv, 2017 Expectations & Experiences: Consumer Payments, it was found that a majority of consumers (59%) have paid bills online in the past 30 days. Interestingly, half of the consumers (53%) agree they like being connected to the internet at all times, but 53% say they strongly distrust internet security.

This raises the point that although people recognize the convenience of paying bills online, they are cautious about or unsure of the security measures that are implemented behind the payments. This uncertainty about security comes as no surprise given the almost daily news of private data being stolen. As pointed out in the Fiserv survey, this uncertainty also extended to those who do not use mobile banking. The survey found that security remains the top concern for 57% of non-mobile banking users. On the other side of the coin, mail was viewed as a more secure way of receiving bills than any other method by 52% of consumers while websites were so viewed by only 33%.

Another major finding of the survey is that nearly half (46%) of consumers said that they were confused about the various products and services available. This suggests an opportunity for financial institutions to educate their consumers on products and services they offer and create custom packages tailored to their needs.

Moving forward, as digital becomes ever more important in the payments space, financial institutions need to continuously build security into all of their platforms as well as continuously educate their customers not only about the products and services they offer but also about the security measures being built into the platforms.

The full report is available here

3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Fiserv

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    commercial card, Allpay ClearBank Prepaid Payments, wealth transfer

    How Banks Can Capture the Wealth Transfer from Boomers to Gen Z

    June 20, 2025
    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result