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07/25/2022

As the Number of Payment Methods Consumers Use Increases, So Do Two Key Problems

PYMNTS.com

Inflation continues to rear its ugly head, but PYMNTS’ data finds that some aspects of consumer spending — such as the share of consumers in the United States spending on travel and average retail product spend — are bouncing back. Also rebounding are payment troubles, such as payment declines and payment fraud, which can cause outsized harm to consumers.

Digital Economy Payments: The Pitfalls Of Payment Diversification” is based on a survey of 2,789 consumers, exploring their payment preferences and evolving shopping behaviors. This report also analyzes current trends in the financial, payments and FinTech landscapes — and where these trends are headed next.

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