How America Pays in 2016
PR Newswire, PLEASANTON, Calif. – May 11, 2016
Americans’ utilization of a wide array of payments options, and their demand for others, is driving innovation in the payments category. Additionally, the payment process while shopping has become increasingly important, now ultimately influencing consumers’ perceptions of and loyalty to a brand. This, along with the year’s most used payments tools, was revealed today in a new research study from Blackhawk Network.
The research, “How America Pays in 2016,” surveyed more than 1,000 Americans in March 2016 to examine how they pay today, their preferences for traditional and emerging payments tools and the role payments play in their purchasing decisions. An infographic detailing the payments research can be viewed here.
“The role of payments in Americans’ lives is increasing in importance. Consumers now have so many payment tools at their disposal; they can be selective about how they pay, and are even influenced on where to shop based on their experiences paying,” said David Tate, senior vice president of products and marketing at Blackhawk Network, a pioneer of prepaid gift cards, payments tools and rewards delivered via a robust and convenient network. “This year, we are seeing consumer-driven innovation in payments; gift cards are being used for self use, peer-to-peer payments have a foothold, mobile wallets continue to rise in adoption and the gift card exchange industry has taken off. Not surprisingly, among this innovation, the role of some legacy payments tools, like checks, continues to decline.”
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