COLUMBUS, Ga., March 27, 2018 — According to the latest U.S. Consumer Payment Study conducted by Total Systems (TSYS), a range of emerging payment options are gaining widespread acceptance with consumers across age groups – especially ages 25 to 34. The seventh annual study, which examines attitudes and behaviors toward payments, focused on the willingness of consumers to use artificial intelligence-powered (A.I.) personal assistants to make purchases, acceptance of peer-to-peer (P2P) payment options and adoption rate of digital wallets, among other topics.
Twenty-six percent of survey respondents said they own an A.I. device — such as an Amazon Echo or Google Home. Within this group, 60 percent said they would use it to make purchases or payments, if available. That figure increases to 76 percent for consumers between ages 25 and 44.
Digital wallets are also experiencing a surge in popularity. Fifty-one percent of survey respondents are interested in using a mobile wallet instead of a payment card when checking out at a store, up 11 percentage points from 2016. Sixty-eight percent of those who have loaded a debit or credit card to a mobile wallet indicated they expect to make 50 percent or more of their in-store purchases using a digital wallet within two years.
In addition, 29 percent of survey respondents have used a P2P payment service such as PayPal, Venmo or Zelle. Among those ages 25 to 34, that number rises to 45 percent.
You can read all of the facts derived from the study at TSYS website.