They may not always be aware of it, but people make decisions about how to move and manage money all day, every day. The latest Expectations & Experiences consumer trends survey from Fiserv shows how consumers' financial decision making is evolving.
From websites to apps, reliance on digital options to track spending is up while consumers’ use of checkbook registers continues to decline.
Survey questions to all respondents: In which of the following ways, if any, do you typically track the money you spend? Select all that apply. Not all responses shown.
Mobile payments are now the norm and the vast majority of mobile and in-app payment users have maintained or increased usage in the past year.
Survey question to all respondents: Compared to a year ago, would you say that your usage of each of the following has increased, decreased or stayed about the same?
Some consumers are starting to use tap-and-pay via card or mobile, but a majority say they are concerned about the security of the relatively new technology.
Survey question to those who are aware of contactless payment methods: Have you ever used a contactless payment method? / To all respondents: Which of the following best describes your feelings about contactless credit card payments? And contactless mobile payments? / To those who have used contactless payments: What type of contactless payment method have you used?
Consumers want rewards. By far, the rewards type (mileage, points, etc.) associated with the card is the most significant influencer of both card acquisition and card usage.
Survey question to those who opened a credit card in the past 12 months: Which of the following factors contributed to your decision to open the credit card? Select all that apply. / To those who use a debit or credit card: What factors influence your decision to use your credit card when making purchases? Your debit card? Select all that apply.
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Conducted by The Harris Poll on behalf of Fiserv, Expectations & Experiences is one of the longest running surveys of its kind and builds on years of longitudinal consumer survey data. The survey provides insight into people's financial attitudes and needs, enabling organizations to design and drive adoption of services that improve consumer financial health, loyalty and satisfaction.