The 2024 Primax Payments Pulse study explores what factors influence consumer behavior when it comes to the choice and usage of traditional and emerging payment methods. The fourth annual study leverages survey data from 1,850 bank customers and credit union members across the U.S. to gauge how consumers interact with their financial institutions and what financial institutions can do to meet the evolving demands of their customers.
Key takeaways from the report include:
Credit surpasses debit as bank customers’ most preferred payment method in 2024, largely driven by younger generations and those with higher incomes looking for better rewards and increased security.
Digital payment options are gaining traction. Consumers, particularly younger generations, use mobile wallets and P2P payment options more frequently and are open to trying new methods like text-based and QR code payments.
Security remains a top concern for consumers, influencing the types of cards they reach for and pushing financial institutions to enhance fraud prevention and customer education.
Complete the form to access the full 2024 Primax Payments Pulse study, including more key takeaways and generational payment preferences.
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of bank customers prefer credit
%
see mobile wallets as easy to use
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