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Payment Metrics: Consumer Attitudes towards and Usage of Traditional and Emerging Means of Payment in the UK is a study about the way in which consumers currently pay for different products and services and how this is likely to change in future. It covers both established payment means, including different types of payment card, and payment methods that seem set for rapid growth in future, most notably mobile and contactless payments. In addition, consumer behaviour is analysed in the fields of specialised online payments and domestic / international remittances, and the research also addresses two areas that are central to consumers’ choice of payment means: loyalty programs; and insurance and assistance policies linked to added value accounts and payment cards.
The report examines how consumers state that they are most likely to pay for small, medium-sized and large irregular purchases at present and also how they report paying for common services that require recurring payments (e.g. cable / satellite TV, electricity, gas or water bills, flat or house rental, travel season tickets etc.). In both cases, it quantifies usage of the following payment means: cash; cheques or postal orders; debit cards; credit or charge cards; rechargeable prepaid cards; and any other means (e.g. mobile or online payments not involving debit, credit or charge cards). Also, for regular payments, it takes into consideration direct debits, standing orders and bank transfers, and distinguishes between rechargeable prepaid cards with multiple usage functions and those usable for one particular service only.
You may be able to use this report in one or more of the following ways:
- gain access to a complete ‘tool kit’ for organisations with an interest in payments to understand the current behaviour of UK consumers in this huge and diverse sector;
- know exactly which types of card are held most widely by consumers and which they report using most often - for example, how does frequency of usage of the many different types of affinity and co-branded card compare to that of regular cards and what differences in utilisation are visible when cards are analysed by function, brand, status and target?
- appreciate the extent to which UK consumers are ready to embrace future opportunities to make payments using their mobile phone (and, possibly, other devices such as wristwatches);
- understand the typical member profile of the UK’s main loyalty programs and the extent to which each has engaged its members to actually make use of it;
- evaluate which forms of insurance and assistance are most likely to enhance the appeal of payment products and which are most likely to be used by consumers in the form of claims or calls for assistance.
For further information about this research, please access the table of contents and report prospectus by clicking on the links at the top of this page or e-mail email@example.com.