Bank Innovation

MARCH 30, 2016

” For Millennials, the cry might as well be, “I want my mobile banking.” ” About 67% of Millennials now use mobile banking, according to a study released today by the Federal Reserve. For Gen Y, the rallying cry was, “I want my MTV.”

Millennials 150

Millennials Mobile Study Online 150

PYMNTS

OCTOBER 27, 2016

26) new research that revealed over six out of 10 millennials declined for credit are not seen applying again for at least 12 months. A frequently referenced Bankrate.com study reported that 63 percent of millennials do not have a credit card. Fewer than half of millennials, the largest generation of U.S.

Millennials 100

Millennials Cards Analytics Study 100

PYMNTS

JULY 18, 2017

Turns out millennials are not the different-kind-of-banking-breed some had thought. In a survey held from the end of June into early July and conducted by SurveyMonkey , the web-based survey firm queried more than 1,000 adults above the age of 18, 290 of which were defined as 18- to 34-year-olds: millennials. And guess who won out?

Millennials 144

Millennials social media Survey Online 144

PYMNTS

DECEMBER 10, 2019

Bridge millennials’ rise is changing the retail ecosystem ahead of the 2019 holiday season, but their impacts will continue to be felt in the year ahead. Bridge millennials are consumers aged 30 to 40 whose shopping and financial preferences straddle Gen X and millennial demographics.

Millennials 136

Millennials Retail Groups Online 136

PYMNTS

MAY 4, 2020

Nearly 50 million credit card customers in the U.S. said they have had their credit limit slashed or their card closed in the past month as lenders move to minimize their risk amid the COVID-19 shutdown, a new study revealed. The sample size was 2,552 adults, including 1,230 adults with personal credit card debt.

US 243

US Survey Cards Study 243

PYMNTS

JANUARY 1, 2021

PYMNTS has tracked those changes every step of the way via exclusive research , Tracker reports and studies, starting on March 6, a full 10 days before the country – or large swaths of it – were locked down. For the purposes of this exercise, we’re going to describe the “typical” grocery shopper – a bridge millennial, a 36-year-old mom of 1.93

Study 362

Study Survey Exercises Cards 362

PYMNTS

SEPTEMBER 8, 2016

Maybe millennials really are a self-centered bunch? New data suggests that they are buying more gift cards than ever before but then turning around and spending those cards on themselves. adults in June of this year to examine the shift in gift card consumers to prepaid and rechargeable cards issued directly from retailers.

Millennials 100

Millennials Cards Retail Survey 100

PYMNTS

SEPTEMBER 30, 2020

Luxury retailers are also targeting millennial and Generation Z consumers to expand their customer bases, with one report showing that millennials accounted for 35 percent of high-end retail purchases, for example. BNPL methods are also growing more popular for certain types of purchases, according to a study.

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Payments Millennials Retail Trends 279

PYMNTS

DECEMBER 9, 2019

Cards over cash – specifically, debit cards over cash. And debit card transactions, the report notes, have become the most widely used payment method , ahead of cash, at least as measured by value. consumers surveyed made more than half their payments with cards, at 54 percent of payments or 24 transactions.

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Study Payments Cards Survey 140

PYMNTS

DECEMBER 6, 2019

Consumers — especially millennials and Generation Z — are looking for new commerce experiences during the 2019 holiday season. However, they are also hesitant to pay for those new experiences with credit cards or other traditional financing options. How Bridge Millennials Are Driving More Demand For Flexible Payments.

Millennials 219

Millennials Payments Retail Apple 219

PYMNTS

OCTOBER 22, 2018

People of all stripes — from millennials to baby boomers, from Generation X to the Greatest Generation — are increasingly swapping the friction of shopping in a store for the convenience of using one of the many connected devices they now own to shop and buy from instead. In collaboration with Visa , we studied 2,800 U.S.

Millennials 212

Millennials Study Payments Data 212

PYMNTS

OCTOBER 5, 2018

The stated goal, according to new CEO Jim Brett – is for the brand to build back its audience particularly among millennial shoppers. And as Karen Webster noted in a commentary on the rise of the Bridge Millennials – and what it will mean – merchants are not wrong to be a little obsessed with this group of consumers. “We

Millennials 128

Millennials Retail Branding Mobile 128

PYMNTS

DECEMBER 2, 2020

In a year that’s been filled with lifestyle changes, personal pivots and business adaptations, 2020 may also go down as the year of the gift card as studies show an outsized increase in sales leading up to the busy holiday season. InMarket’s data also showed customers were spending about 17 percent more on gift cards in 2020.

Cards 160

Cards Retail Study Survey 160

PYMNTS

OCTOBER 1, 2020

The study surveyed more than 5,000 U.S. Some business verticals are doing better than others, the PYMNTS study found. Here are five fast facts that PYMNTS' study uncovered about demand for both a modern digital disbursements experience and the implications for businesses that do — and don’t — make them part of their payments strategy.

Trends 306

Trends Study Taxes Payments 306

PYMNTS

SEPTEMBER 27, 2020

customers in a recent study saying they’d used BNPL to buy things, and 56 percent chose such plans to defer costs without gaining interest if they were using a credit card. Meanwhile, millennials and Gen-Z spent 44 percent and 72 percent more on orders if BNPL was available as an option, the Tracker says.

Leadership 302

Leadership Millennials Retail Study 302

PYMNTS

OCTOBER 5, 2018

The stated goal, according to new CEO Jim Brett, is for the brand to build back its audience, particularly among millennial shoppers. And, as Karen Webster noted in a commentary on the rise of the bridge millennials – and what it will mean – merchants are not wrong to be a little obsessed with this group of consumers. “We

Millennials 122

Millennials Retail Mobile Branding 122

PYMNTS

JULY 13, 2016

Move over millennials , there’s a new kid in town that is about to become nearer and dearer to retailers’ hearts: Gen Z. Interactions’ study found Gen-Z shoppers to be extremely “digitally savvy,” although 64 percent of them shop primarily in stores rather than with online merchants.

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Study Millennials Retail social media 100

PYMNTS

SEPTEMBER 16, 2019

In the payments ecosystem, we need look no further than the bridge millennial for how the connected purchasing experience will evolve over the next decade. The group’s connected commerce behaviors are well-documented in the annual PYMNTS/Visa How We Will Pay 2019 study released just today. This group of 60 million U.S.

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Millennials Study Course Trends 222

PYMNTS

MAY 23, 2018

For all the press about how millennials are the future of commerce, there is one big and rather problematic roadblock in that narrative. Millennials are kind of broke – and they might always be. Louis study titled “ A Lost Generation? As of 2016, only 45 percent of millennials born in the 1980s had bought a home.

Millennials 109

Millennials St. Louis Study Groups 109

PYMNTS

DECEMBER 31, 2020

This study showed that the home had become the consumer’s commerce command center as they changed their daily routines to do more of their work and more of their once-physical errands from home. This study showed that consumers display significant interest in real-time payments once they fully understand them. 31 percent bank via app.

Data 277

Data Innovation Payments Millennials 277

PYMNTS

FEBRUARY 25, 2020

Banks and legacy financial institutions (FIs) might be wise to study what disruptive technologies recently did to the print publishing industry, taxi cabs, network TV, and a host of other businesses that were disintermediated with little to no warning in recent years. Mobile Cards: Make or Break? Follow the Smart(phone) Crowd.

Mobile 153

Mobile Cards social media Survey 153

PYMNTS

DECEMBER 24, 2019

However, after almost 50 years, it began to fade in the 1980s, disrupted by the emergence of store-branded credit cards. Yet, instead of offering the option to pay now and buy later, the credit cards reversed the order of operation and allowed customers to buy now and pay later over time. That’s not all.

Millennials 139

Millennials Branding Trends Retail 139

PYMNTS

DECEMBER 2, 2020

Recent research by PYMNTS and Afterpay found that millennials are especially enthusiastic about these flexible payment options, and prefer them more than any other generation. percent of millennials report being financially stable, compared to 79 percent of non-millennial consumers. In fact, only 20.7

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Retail Millennials Payments Analysis 194

Chris Skinner

JULY 26, 2018

Things we’re reading today include … This Is the Bank with the Worst Reputation in America Metro Bank has a credibility problem Why bank mergers are always riskier than markets think Study Reveals Millennials Shun Banks with Poor Online Service Starling Bank card design reflects ‘how we actually use our … The post Things worth (..)

Metro 157

Metro Millennials America Study 157

PYMNTS

JUNE 1, 2020

Capturing and then enabling card-on-file payments when consumers buy the products or services they consume in the physical world. Part of that includes reminding consumers to use their contactless cards when they check out in their stores (if they have one) or their mobile wallets (if they choose). Uber and Starbucks pioneered it.

Cards 147

Cards Study Maine Retail 147

PYMNTS

MAY 4, 2017

The Cardtronics executives noted that the studies are not all that surprising, and where once the findings reflected increasing cash adoption across, say, Europe, recent research has borne out the same trends in Europe and the Americas. Cards are perhaps proving a sticking point in the move toward electronic payments.

ATM 192

ATM Millennials United States Study 192

PYMNTS

MARCH 1, 2018

Once payments are disbursed, cards can be used to make online and in-store purchases, withdraw funds from an ATM, transfer funds or pay bills. Can a cash back program help millennials avoid the debt trap? As it turns out, millennials are more afraid of debt than of death. About the Tracker.

Millennials 102

Millennials Trends Cards ATM 102

PYMNTS

DECEMBER 1, 2016

More than one out of four millennials carry less than $5 cash with them. And according to another study, nearly 20 percent of millennials have not used cash in two months. With a fifth of millennials already rarely using cash, it is clear that this is happening relatively rapidly,” said Kalle Marsal, CMO of Mitek.

Millennials 100

Millennials Trends Study Groups 100

PYMNTS

JULY 13, 2018

In 1974, women won the right to apply for and control their own credit card with the passage of the Equal Credit Opportunity Act. It has made the millennial generation of women — either entering or settling into their prime spending years — something of a unique class of citizens when it comes to financial services.

Millennials 111

Millennials Tools Connecticut Study 111

PYMNTS

JUNE 22, 2020

“Post-2009, millennials demonstrated a clear aversion to financial risk, especially for lifestyle purchases, resulting in a tangible shift away from credit cards. Consumers are reaching for their debit cards and avoiding expensive credit card interest and fees,” Molnar said. It’s an important distinction. “[The]

Millennials 151

Millennials Cards Examples Retail 151

PYMNTS

MAY 22, 2019

In the 2019 edition of the Remote Payments Study , PYMNTS collected and analyzed survey data from 2,300 American consumers to see how shopping habits have changed and evolved from last year. In the study, nearly half (48 percent) of consumers who own smartphones use them while shopping in stores. Most use stored credit cards (38.9

Mobile 177

Mobile Study Retail Millennials 177

PYMNTS

OCTOBER 1, 2019

The steady drumbeat of tech has brought purchasing from bills and coins to cards and contactless payments – done across all manner of devices and through pushes, taps, swipes and waves, at any time. The study found that consumers’ interest in contactless payments was up 5.4 percent of the bridge millennials and 42.2 featured 4.8

Millennials 140

Millennials Payments Groups Study 140

PYMNTS

SEPTEMBER 2, 2016

The movement to EMV and chip cards has been one of safety, but card users themselves have been disgruntled when actually using the cards. The survey of more than 1,000 card users said 37 percent of consumers found their big complaint to be focused on slow lines.

Cards 100

Cards Washington Millennials Security 100

PYMNTS

APRIL 23, 2019

This might be a ploy to retain T-Mobile customers, but it’s also intended to appeal to consumers without any real affinity for a more traditional financial services provider, including the highly coveted millennial, as well as the unbanked and underbanked. This study showed that checking accounts were the most wanted service (87.3

Millennials 145

Millennials Mobile Study Branding 145

PYMNTS

APRIL 29, 2020

Buy now, pay later (BNPL) solutions are well on their way to challenging credit cards as younger consumers’ deferred payment method of choice. Millennials carry two fewer credit cards than their Generation X counterparts, for example, and are the single-largest demographic group using BNPL solutions. Approximately 20.3

Payments 175

Payments Millennials Cards Retail 175

PYMNTS

OCTOBER 16, 2020

How We Will Pay 2020 , a study conducted by PYMNTS and Visa , found that cash usage is a fraction of what it used to be given the modern, digitally connected economy. The study also found that the typical U.S. In fact, the only exception the study found is tipping, which many consumers still do with cash. The Way Forward.

Payments 166

Payments Study Survey Cards 166

PYMNTS

NOVEMBER 27, 2019

Consumers are most concerned with getting good deals around the holiday season, according to a recent study by Deloitte. The study also showed that free shipping is more important than the speed at which an order arrives, according to 85 percent of consumers. It also said “ uncertainty over trade ” could potentially harm sales.

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Trends Millennials Retail Study 130