PYMNTS DATA AND ANALYTICS: STUDIES

PYMNTS Data and analytics

FEATURED STUDIES

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem.

CHECKOUT CONVERSION

APRIL 2018 INDEX

Q2 2018 CCI FINDINGS

82.2: Average CCI score of the Top 30 merchants we studied

47.7: Average CCI score of all the merchants we surveyed

145.4 seconds: Average time it takes to check out on an eCommerce site

CREDIT UNION INNOVATION

JANUARY 2019 INDEX

KEY FINDINGS INCLUDE:

51 percent: Portion of CU members who banked with CUs because they liked their prices

58.4 percent: Share of members who were “extremely” satisfied with their CUs

51 percent: Portion of CUs that cited compliance as an impediment to innovation

DISBURSEMENT SATISFACTION

JUNE 2018 INDEX

INSIDE THE JUNE INDEX

Despite a 7.8 percent dip in consumer satisfaction, direct deposit remained the most popular disbursement method for recurring payments.

Paper checks saw a dissatisfaction rate of 14.1 percent, the highest among all payment types.

75 percent of consumers who prefer instant payments say speed is the most important factor.

45.5 percent of consumers who live paycheck to paycheck said they were extremely satisfied with instant payments.

FINANCIAL INVISIBLES

KEY FINDINGS FROM THE REPORT INCLUDE

67.6 percent: Share of consumers who were able to pay all their bills on time in Q3 2018

$60.4K: Average annual income of consumers who got a loan from their family or friends to pay off debt in Q3 2018

20.8 percent: Share of consumers who were either “very” or “extremely” interested in financial education in Q3 2018

GIG ECONOMY

JANUARY 2019 INDEX

KEY FINDINGS INCLUDE:

37.0 percent: Portion of gig workers who seek gigs for job flexibility

78.6 percent: Portion of gig workers who sourced their gigs via a digital marketplace

54.1 percent: Portion of gig workers who also had a full-time job

GLOBAL CASH

Middle East And South Africa September 2018

KEY FINDINGS INCLUDE:

Cash share accounted for 60 percent of South Africa’s GDP, as well as 37.5 percent of Saudi Arabia’s GDP.

Overall, the Middle East’s GDP is expected to grow 12 percent between 2016 and 2021.

Middle Eastern consumers made $0.9 trillion in cash payments in 2016. This is expected to rise to $1.4 trillion by 2021.

In South Africa, 75 percent of adults now possess bank accounts, compared to just 60 percent of adults in Turkey.

GLOBAL CITIZEN

FEBRUARY 2017 INDEX

KEY FINDINGS INCLUDE:

45 percent of international healthcare patients in the United States are aged 55 and older.

44 percent of patients list quality of care as their main reason for medical travel.

33 percent of patients are seeking treatment for life-threatening conditions.

GLOBAL FRAUD

OCTOBER 2017 INDEX

Key Findings Include:

45 percent: Increase in account takeovers in Q2 2017

$3.3 billion: Amount lost by merchants to account takeovers in Q2 2017

$57.8 billion: Value of potential fraud in the eight industries studied by the Index

5.5 percent: Increase in total fraud from Q2 2016 to Q2 2017

11.64 percent: Fraud rate of transactions over $500, 22 times higher than the fraud rate for transactions worth less than $100

innovation readiness

October 2017 INDEX

key FINDINGS include:

36 percent of FIs said their existing IT infrastructure made payments innovation hard or very hard

68.0 percent of FIs with less than $500 million in assets say they are well suited for innovation

63.0 percent of FIs identify meeting a customer need as the main driver for innovation

83.6 percent of FIs run core processing systems without a sandbox for development innovation

39.7 percent of top innovators use sandbox-to-scale functionality

Omni Usage

MAY 2018 INDEX

KEY FINDINGS INCLUDE:

61 percent of large-format store shoppers and 54 percent of those at small-format stores said they shopped at brick-and-mortar locations about as often as they had in past years.

Brick & Mortar Consumers were the most satisfied, giving merchants an average omnichannel satisfaction score of 37.2 out of 100,. By comparison, Any-Channel Consumers gave a score of 36.2 out of 100 and Digital Consumers awarded merchants just 35.8 out of 100.

Purchase history capabilities were some of the most popular among shoppers who had tried various features, as 16.7 percent of those buying medications, 15 percent of those purchasing beauty services and 8.2 percent of those buying beauty products said the features were “Very Good” or “Excellent.”

OMNIREADI

November 2017

Key Findings include:

Overall, 14 merchants saw their Index scores improve, while 60 scores stayed the same and nine

Mass Merchants retained the highest OmniReadi Index score of any industry, but scores in the space fell from 81.7 out of 100 last year to 81.3 this year.

Purchase Histories, Wish Lists and Account Profiles were among the main differentiators for Top 10 merchants.

The Index also features an interview with Drew Green, CEO of Indochino, discussing how the company has found omnichannel success despite an unconventional journey to get there.

RESTAURANT READINESS

DECEMBER 2018 INDEX

KEY FINDINGS INCLUDE:

65% of QSR managers believe using apps to place orders delivers a positive customer experience

92% of customers consider using an app to place a QSR order offers a positive experience

3% of QSR managers say self-service kiosks are the most common way consumers place orders

Retail Innovation Readiness

Inside the February Index

KEY FINDINGS INCLUDE:

61.7 percent of merchants said customer loyalty was their top reason for innovating

44.0 percent of merchants are very interested in smart POS systems, although many have yet to implement them

Only 37.6 percent of merchants in the health and beauty segment report having a website

SMB TECHNOLOGY ADOPTION

Q3 2016 INDEX

KEY FINDINGS INCLUDE:

While the average SMB says they are moderate users of technology, just 13 percent are willing to jump on the innovation bandwagon.

80 percent of smaller merchants still cannot accept mobile wallets like Apple Pay or Android Pay.

SMBs embrace innovation when enough customers ask them to. 31 percent of merchants in face-to-face environments and 26 percent of merchants in remote environments have adopted new payment technology because their customers want them to.

STORE FRONT

MARCH 2017 INDEX

KEY FINDINGS INCLUDE:

Fitness companies emerged on top in this quarter’s index with a growth rate of 6.0 percent. They were followed by building contractors/remodelers and personal services, both of which grew by 3.9 percent.

Main Street USA now boasts 3.4 million store fronts, a projected 2.1 percent growth since Q3 2016.

For a second quarter in a row, Mountain and Southern states continued to grow at the fastest rate. The two regions grew by 3.9 percent and 3.6 percent, respectively in Q2 2016.

SUBSCRIPTION COMMERCE CONVERSION

JANUARY 2019 INDEX

KEY FINDINGS INCLUDE:

63.5: Average SCCI score in Q4 2018

5.3: Average number of payments accepted on a subscription platform in Q4 2018

146 seconds: Average time it took to complete a subscription in Q4 2018

X-BORDER PAYMENTS OPTIMIZATION

NOVEMBER 2017 INDEX

KEY FINDINGS INCLUDE:

The United States kept its top spot in the Index, coming in as the most cross-border friendly country PYMNTS studied with an Index score of 65.9 out of 100. China rose from fourth to second place with a core of 63.9 out of 100, followed by the U.K. in third 63.2 out of 100.

The Travel industry received the highest Index score with a 64.8 out of 100, followed by the Apparel and Accessories industry (63.0 out of 100) and the Housewares and Home Furnishing industry (59.4 out of 100).

Visa is the most commonly accepted payment type, accepted by 94.5% of merchants, followed by Mastercard, accepted by 94 percent – and PayPal, accepted by 79.8 percent.

To Top