The Primax Payments Pulse explores payments preferences and trends, providing timely insights on consumer spending throughout the year. The special edition of this report uses year-over-year, same-store financial institution comparisons to explore consumer payment preferences and spending trends from a three-month period during the 2022 holiday spending season.
Key takeaways from the report include:
- For the cumulative holiday period in the Goods sector, growth in credit purchases was up 2.0% and growth in debit purchases was up 6.4%.
- Overall consumer spending growth on payment cards in 2022 finished strong, with credit purchases up 15% and debit purchases up 5%.
- The Consumer Price Index (CPI-U) decreased on an annual basis to 6.5% in December, with the energy index decreasing 4.5%.
- Contactless card transactions continue to grow as consumers show strong adoption of “tap and go” payments.
Complete the form to access the Primax Payments Pulse: 2022 Holiday Spending Report.
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