Cover for the March 2023 PYMNTS report "Consumer Interest in Credentials Vaults: Traditional FIs Fight Digital Alternatives For Consumer Trust"

Traditional FIs Fight Digital Alternatives For Consumer Trust

Consumers Sick of Scattered Payments Credentials — and They Want Banks to Help

The idea of a payments vault seems to be one that consumers are warming to — at least that’s what 2,313 U.S. consumers said in a January 2023 survey asking about their experiences with credentials vaults. The reason? Too many stored credentials all over the web they worry aren’t secure. Read PYMNTS’ latest report, “Consumer Interest in Credentials Vaults: Traditional FIs Fight Digital Alternatives for Consumer Trust” to learn more.

Inside the March Report

  • 45%: Portion of consumers who would trust their primary bank the most to administer a payment credentials vault
  • 49%: Share of consumers who would trust PayPal to administer a payment credentials vault
  • 46%: Portion of consumers who use stored payment credentials for 75% or more of their subscription payments or when shopping online that are highly interested in credentials vaults

PYMNTS Special Reports