With PYMNTS.com, we’ve conducted a census-balanced survey of U.S. consumers to measure their experience with and expectations from emerging payment tech – particularly those methods that are low to no-fee for businesses.
Download our playbook to learn:
US consumers’ preferred payment methods and willingness to try emerging payment tech
US consumers’ adoption of digital wallets and how to leverage this to convert them to no-fee payment methods
Opportunities to improve the transaction experience for US consumers’ for customer retention and additional revenue generation
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Using rewards as an incentive is not new: PYMNTS’ data finds, for instance, that earning rewards motivates 7 out of 10 consumers to use their credit cards.
Furthermore, 26% of consumers express interest in using pay by bank transfers for retail transactions if offered the ability to earn rewards, with millennials the most likely to say so.
Our data also finds that more than half of consumers who have used pay by bank transfer in the past would be very or extremely likely to use it again when making retail purchases if offered rewards.
32% of consumers cite the ability to receive rewards as reason to make a payment with their preferred payment method.
Younger, high-income consumers are most likely to say the inability to earn reward points is a problem when using any payment method.
