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