LONDON, Aug. 15,
2024 /PRNewswire/ -- When it comes to spending habits
and payment options, the times are a-changing! According to global
payments platform Paysafe's (NYSE: PSFE) report, 'Inside
the Wallet: How consumers are spending and saving in 2024',
over half of consumers worldwide (56%) have changed their spending
habits from a year ago, not only becoming more price conscious but
demanding payment choice, from debit cards and bank transfers to
digital wallets and cash.
Experience the full interactive Multichannel News Release here:
https://www.multivu.com/players/English/9278351-paysafe-consumer-spending-habits-report/
Some more findings include:
- Debit cards (53%) are the top payment method being used more
frequently this year vs last year, but bank transfers (39%), credit
cards (33%), and digital wallets, such as Skrill, (32%) have also
increased in popularity, with new payment methods and platforms
beginning to emerge.
- More than half of people (54%) said that security in a
business's payment process is an important factor when deciding
where to shop online. While two-thirds of consumers reported
feeling better buying from a business if they know there are
security steps in place to protect their data or if they see a
payment option they recognize.
- Over a third (36%) of 18-43-year-olds are fully comfortable
with AI being used to improve payments. This compares to 33% of
those aged 60 and over who are uncomfortable with the idea of AI in
payments.
- As many consumers live paycheck to paycheck, the opportunity to
save has decreased, with 39% saving less than 6% of their income
each month and 14% not saving at all. The inability to save can be
attributed to an increase in the cost-of-living, with respondents
reporting that they're spending more on everyday necessities like
groceries (66%), utilities (57%) and essential consumer goods
(51%).
In this interview, Bob Legters,
Paysafe's SVP Product talks more about this survey and does a deep
dive on how Americans are using their money – from general spending
habits to trends in payment. He also breaks down generational
differences in spending vs. saving. Lastly, he discusses how
consumers can be sure that their payments are secure and shares his
tips on how to have sound financial health.
For more information, please visit www.paysafe.com
Produced for: Paysafe
View original
content:https://www.prnewswire.com/news-releases/new-survey-peeks-inside-the-wallet-to-learn-more-about-current-financial-trends-and-spending-habits-302223706.html
SOURCE Paysafe
