CROSS-BORDER SALES AND THE CHALLENGE OF FAILED PAYMENTS
Retail

Inside The February 2024 Report

  • 69%: Share of merchants highly interested in innovative fraud management tools
  • 82%: Portion of merchants that find it difficult to identify causes of failed payments
  • $3.8B: Estimated losses by U.S. merchants in 2023 due to failed cross-border payments

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2023-2024 GROWTH CORPORATES WORKING CAPITAL INDEX: EUROPE EDITION
VISA

Inside The February 2024 Report

  • 92%: Share of commercial travel European Growth Corporates that used financing in 2023
  • 37%: Share of commercial travel European Growth Corporates that used financing to cover shortfalls and emergencies
  • 33%: Share of European Growth Corporates planning to use working capital loans as their primary working capital solution in 2024

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2024 GLOBAL DIGITAL SHOPPING INDEX: U.S. EDITION
VISA

Inside The February 2024 Report

  • 65%: Share of Click-and-Mortar™ shoppers experiencing an increase in customer satisfaction over those who shop with no digital assistance in the U.S.
  • 76%: Portion of shoppers in the U.S. who want the ability to use their preferred payment method
  • 24%: Portion of digital features that consumers want but fail to find from a lack of knowledge

THE 2024 GLOBAL DIGITAL SHOPPING INDEX
VISA

Inside The February 2024 Report

  • 45%: Share of millennials who have adopted the Click-and-Mortar™ shopping model
  • 57%: Share of parents with children at home who pursue Click-and-Mortar™ shopping experiences
  • 7: Average number of additional digital features that merchants who anticipate revenue growth offer compared to merchants not expecting revenue growth

DIVIDED, NOT CONQUERED: ACQUIRER AND MERCHANT CONFUSION CLOUDS SPLIT-PAYMENTS LANDSCAPE
Consumer Payments

Inside The February 2024 Report

  • 38%: Share of Gen Z consumers who increased their use of any type of split-payment product in the last year
  • 97%: Portion of acquirers that process transactions and can split payments on cards that they issue
  • 60%: Share of acquirers planning to enhance their ability to offer installment plans within the next year

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PESSIMISM ABOUT PAY RISES OFFSETS THE EFFECT OF FALLING INFLATION
Consumer Finance

Inside The February 2024 Report

  • 83%: Portion of consumers who are at least somewhat concerned about current and near-future economic conditions
  • 42%: Share of consumers who expect the interest rates of their loans to increase during 2024
  • 20%: Portion of paycheck-to-paycheck consumers who say that their average savings will decrease in 2024

UNPACKING MERCHANT STRATEGIES AND CONSUMER DEMAND FOR FLEXIBLE PAYMENT PLANS
Consumer Payments

Inside The February 2024 Report

  • 78%: Share of merchants planning to improve their ability to accept general-purpose card installments
  • 18%: Portion of merchants reporting lack of BNPL options is consumers’ most common complaint
  • 90%: Share of merchants not offering merchant/store card installment plans

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CAN NEW USE CASES DRIVE CONSUMER USE OF DIGITAL WALLETS?
Digital Payments

Inside The February 2024 Report

  • 54%: Portion of consumers using a debit card as the underlying digital wallet payment method when purchasing non-grocery retail purchases in-store
  • 12%: Share of consumers who cite the ability to pay a recurring monthly bill as the top digital wallet feature they are interested in
  • 38%: Portion of consumers using a debit card as the underlying digital wallet payment method when purchasing groceries online

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TOOLS, TRENDS AND DECISION DRIVERS
SMBs

Inside The January 2024 Report

  • 45%: Portion of SMBs identifying revolving credit products as their go-to borrowing tool
  • 17%: Share of high-revenue SMBs citing BNPL as the borrowing tool they have used most in the last year
  • 33%: Portion of low-revenue SMBs reporting they have used reward credit cards most in the last year

THE ROLE OF REWARD PROGRAMS IN CONSUMER CREDIT USAGE
Credit Cards

Inside The January 2024 Report

  • 26%: Share of cardholders who had trouble redeeming rewards saying rewards were insufficient for desired purchases
  • 36%: Share of credit card holders who received cash back on any purchase in the last 90 days
  • 71%: Share of consumers very or extremely satisfied with the rewards program offered by their primary credit card

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2024 CREDIT UNION INNOVATION READINESS INDEX
Credit Unions

Inside The January 2024 Report

  • 93%: Share of the most innovative CUs that increased total investment in payment innovation in the past year
  • 14%: Portion of total asset size that the most innovative CUs invested in payments innovation in the past year
  • 19%: Share of the least innovative CUs that cite regulation and compliance as their top challenge

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SPOTLIGHT ON CROSS-BORDER PAYMENTS
Cross-border Payments

Inside The January 2024 Report

  • IMPROVED EXPERIENCES: Having the right cross-border payment solutions creates seamless customer experiences and may increase satisfaction.
  • NEW SOLUTIONS: Better options for cross-border payments are changing the game, and companies need to innovate to stay competitive.
  • MAXIMIZING GROWTH: For top growth, businesses must look abroad, making fast, reliable and cost-effective cross-border payments more important than ever.

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2023-2024 GROWTH CORPORATES WORKING CAPITAL INDEX: FLEET AND MOBILITY EDITION
VISA

Inside The January 2024 Report

  • Two-thirds of fleet and mobility Growth Corporates used working capital to cover seasonal liquidity shortfalls, invest in assets and upgrade legacy systems.
  • Top-performing fleet and mobility companies used external working capital strategically, resulting in 26% lower DPOs than those seen among bottom performers.
  • 96% of fleet and fuel companies expect to use a working capital solution in the next year.

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THE PAYFAC ECONOMY AND THE EMBEDDED PAYMENTS REVOLUTION
Digital Payments

Inside The January 2024 Report

  • UNLOCKING OPPORTUNITY: PayFacs’ embedded payments tools allow businesses to reach new markets and customers at scale.
  • WAVE OF THE FUTURE: PayFacs are helping advance commerce and expand the digital economy.
  • DATA INSIGHTS: PayFacs enable merchants to collect data on how consumers use and engage with businesses.

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THE EMBEDDED FINANCE ECOSYSTEM: SOFTWARE PUBLISHING EDITION
Digital Payments

Inside The January 2024 Report

  • 50%: Portion of marketplaces offering merchant lending solutions to the software industry that want to innovate further
  • 25%: Share of marketplaces saying the biggest barrier to innovation is complex internal decision-making processes
  • 26%: Portion of ISVs citing system integration as their top obstacle to innovation

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THE ONLINE FEATURES DRIVING CONSUMERS TO SHOP WITH BRANDS, RETAILERS OR MARKETPLACES
ECommerce

Inside The January 2024 Report

  • 28%: Portion of consumers who probably or definitely prefer shopping on a brand’s site
  • 72%: Share of consumers who say they are highly satisfied when shopping from a brand’s site
  • 66%: Portion of consumers who cite free shipping as a key determinant of their loyalty to a shopping channel

THE ROLE OF FRAUD SCREENING IN MINIMIZING FAILED PAYMENTS
Fraud Prevention

Inside The January 2024 Report

  • 33%: Portion of merchants with a screening mechanism that detects if potential fraud causes failed payments
  • 78%: Share of merchants with no PSP collaboration actively seeking innovative solutions to combat friendly fraud and chargeback fraud
  • 42%: Portion of merchants that increase the security level and ask the customer to attempt the purchase again after a failed payment

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HOW MERCHANTS ENGAGED HOLIDAY SHOPPERS WITH CARD-LINKED OFFERS
Loyalty & Rewards

Inside The January 2024 Report

  • 28%: Share of card users who said merchants presented them with card-linked offers for all or most of their 2023 holiday purchases
  • 49%: Share of cardholders considering using card-linked offers who cited reducing costs as the most important reason to consider using them
  • 37%: Share of cardholders who have not used card-linked offers in the last 12 months because they lack familiarity with the programs

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INCREMENTAL CHANGES, BIG IMPACT: FOUR WAYS GLOBAL MERCHANTS CAN OPTIMIZE DIGITAL CONVERSION RATES
ECommerce

Inside The January 2024 Report

  • Multifaceted Approach: Global eCommerce businesses must comply with diverse regulations, adhere to issuer-specific protocols and incorporate home currencies into their pricing mechanisms.
  • Beyond Authentication: Cross-border eCommerce businesses must enhance the entire shopping journey by providing diverse payment choices, streamlined checkouts and smooth mobile shopping experiences.
  • FX Transparency Required: eCommerce merchants must provide consumers with comprehensive breakdowns of FX costs or risk losing sales.

WHAT’S NEXT IN AUTOMATION
Accounts Payable

Inside The December 2023 Report

  • 5%: Portion of mid-sized firms that have completely automated their AP or AR processes
  • 2%: Share of mid-sized firms that have no intent to automate AP processes
  • 91%: Portion of mid-sized firms that have fully automated AR systems that report increased savings, cash flow and growth

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PERSONALIZED OFFERS ARE POWERFUL — BUT TOO OFTEN OFF-BASE
Retail

Inside The December 2023 Report

  • 58%: Share of consumers interested in discount and promotion offers
  • 44%: Portion of consumers finding offers very relevant to their needs
  • 89%: Share of millennials interested in receiving personalized offers, leading all demographics

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REGULATING GENERATIVE AI: THE SIX STORYLINES OF 2023
Artificial Intelligence

Inside The December 2023 Report

  • Intellectual Property Rights Debate: AI’s creative outputs challenge existing IP laws.
  • Regulatory Sandboxes for AI Oversight: Pilot programs are essential for understanding and regulating AI.
  • Technological Evolution Outpaces Laws: AI’s rapid advancement requires adaptable, informed legal frameworks.

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EMBEDDED PAYMENTS AND THE RETAIL INNOVATION AGENDA
Retail

Inside The December 2023 Report

  • 30%: Portion of retail ISVs that cite customer experience as the most important innovation driver
  • 19%: Share of retail PayFacs that say systems integration is their biggest innovation hurdle
  • 40%: Portion of retail marketplaces that rate operational enhancement as their top innovation agenda

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THE RETAIL SUBSCRIPTION FEATURES THAT MAKE TOP-PERFORMING MERCHANTS
Subscription Commerce

Inside The December 2023 Report

  • 100% vs. 20%: Top vs. bottom performers providing pause and skip features, respectively
  • 97% vs. 60%: Top performers vs. bottom in offering online product details, respectively
  • 20% vs. 6.7%: Top vs. bottom performers offering BNPL options, respectively

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ACQUIRERS’ NAVIGATION OF AN UNCERTAIN INSTALLMENT PLAN LANDSCAPE
BNPL

Inside The December 2023 Report

  • 25%: Portion of firms offering BNPL that cite client retention as a benefit of offering the plans
  • 39%: Share of acquirers with plans to allow clients to offer general-purpose card installment plans to their consumers before the checkout process
  • 68%: Portion of acquirers that think business clients would be highly likely to sell higher-priced items or services if they offered card installment plans to clients before checkout

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Q4 2023: ECOMMERCE PROTECTS MAIN STREET SMBS’ BOTTOM LINE IN A COOLING MARKET
SMBs

Inside The December 2023 Report

  • 36%: Portion of Main Street SMBs citing expanding customer reach as the most important reason to use online channels
  • 55%: Share of Main Street SMBs that say competitive pressure was an important reason for selling online
  • 45%: Portion of Main Street SMBs that say security issues is challenge firms face when selling online

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THE CREDIT CARD USE DEEP DIVE EDITION
Consumer Finance

Inside The December 2023 Report

  • 57%: Share of credit cards owned by consumers living paycheck to paycheck
  • 62%: Portion of consumers who lived paycheck to paycheck as of November 2023
  • 40%: Share of consumers living paycheck to paycheck with super-prime credit scores

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HOW INSTANT AD HOC PAYMENTS DRIVE SMB SUCCESS
Money Mobility

Inside The December 2023 Report

  • 43%: Share of SMBs citing improved cash flow management as the most important reason they choose instant payments
  • 32%: Share of SMBs that primarily use manual procedures to process ad hoc payments
  • 66%: Portion of SMB receivers willing to continue to do business with a company that offers free instant payments

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CONSUMER FAMILIARITY CONTROLS ACCOUNT-TO-ACCOUNT PAYMENT GROWTH
News

Inside The December 2023 Report

  • 34%: Portion of consumers who would like cash back incentives when using A2A payments
  • 33%: Share of consumers who would like discounts on purchases when using A2A payments
  • 36%: Portion of consumers reporting they do not use A2A payments because they do not know how A2A payments work

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2023-2024 GROWTH CORPORATES WORKING CAPITAL INDEX: NORTH AMERICAN EDITION
VISA

Inside The December 2023 Report

  • 25%: Share of top-performing North American Growth Corporates that plan to use virtual cards most in the next 12 months
  • 11%: Share of North American Growth Corporates that used third-party revolving credit facility in the last 12 months, highest among all regions covered in the survey
  • 25%: Share of top-performing North American Growth Corporates that accessed financing solutions to cover expected cash flow shortfalls

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RENTERS AND REFUNDS
Money Mobility

Inside The December 2023 Report

  • 2%: Portion of consumers who received rent-related refunds in the last year
  • 19%: Share of consumers who received most rent-related refunds via instant transfer to their bank account
  • 72%: Portion of consumers highly satisfied when using digital payment methods to receive rent-related refunds

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FINANCIAL INSTITUTIONS REVAMPING TECHNOLOGIES TO FIGHT FINANCIAL CRIMES
Fraud Prevention

Inside The December 2023 Report

  • 90%: Portion of FIs that use fraud prevention APIs
  • 29%: Share of FIs that rely entirely on third parties to provide AI and ML solutions
  • 30%: Portion of FIs that say customer needs are an influential factor when considering third-party solution providers

BUSINESS EXPENSE REIMBURSEMENTS
Money Mobility

Inside The December 2023 Report

  • 4%: Portion of millennials who received business expense reimbursements in the last year
  • 14%: Share of consumers who have received their business expense reimbursements via non-instant digital payments most often
  • 43%: Share of consumers who have received their business expense reimbursements via instant digital payments most often

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A HOUSEHOLD SUPPLY DEEP DIVE
Subscription Commerce

Inside The November 2023 Report

  • 42%: Share of subscribers who shop in-store less often because of their subscriptions
  • 31%: Portion of subscribers who use scheduled and auto-fill subscriptions for most of their regularly used products
  • 15%: Share of subscribers who cite more control over timing as the top reason they prefer to shop online at will when a product runs out

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HOW CONSUMERS ARE APPROACHING HOLIDAY SPENDING AND TRAVEL
Retail

Inside The November 2023 Report

  • 39%: Share of holiday shoppers planning to give clothing this year
  • 25%: Portion of consumers planning to travel this holiday season
  • $1,950: Average amount consumers planning to travel expect to spend on holiday travel this year

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CREDIT UNIONS AND COMMUNITY BANKS GAIN CREDIT CARD ISSUING MOMENTUM
Credit Unions

Inside The November 2023 Report

  • 15%: Share of consumers who would prefer a credit union for a new credit card
  • 16%: Portion of consumers who have a primary bank account with a credit union
  • 24%: Share of consumers that prefer a credit union or community bank for a new credit card

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THE JOURNEY TO AUTOMATION
Accounts Payable

Inside The November 2023 Report

  • 37%: Share of mid-sized firms citing the time required to learn new technology as a hurdle to automating AP and AR
  • 13%: Share of mid-sized firms citing a desire to save time as the top reason for automating AP or AR processes
  • 5%: Portion of mid-sized firms that have completely automated AP and AR processes

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THE HOLIDAY SHOPPING DEEP DIVE EDITION
Consumer Finance

Inside The November 2023 Report

  • 42%: Portion of consumers annually earning more than $100K living paycheck to paycheck as of October 2023
  • 43%: Share of consumers living paycheck to paycheck and struggling to pay bills who plan to use credit for holiday spending
  • 37%: Share of consumers who say they will use savings to pay for holiday expenses

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ACCOUNTS PAYABLE AND RECEIVABLE TRENDS AND THE PATH TO PROFITABILITY
Accounts Payable

Inside The November 2023 Report

  • 44%: Portion of mid-size firms that have automated one or two of their AP processes
  • 73%: Share of executives at mid-size firms reporting that AP automation improves cash flow, increases savings or contributes to business growth
  • 85%: Portion of executives at mid-size firms citing accurate, efficient and streamlined processes as benefits of AP automation

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STREAMLINING AD HOC PAYMENTS WITH INSTANT PAY
Money Mobility

Inside The November 2023 Report

  • 63%: Share of senders sending tip payouts to employees that already pay fees to make these payouts instantly
  • 80%: Share of senders that think receivers are satisfied with their current ad hoc solutions
  • 31%: Share of senders that expect improved customer/supplier satisfaction would be the chief benefit of adding new ad hoc payment solutions

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FRAUD MANAGEMENT, FALSE DECLINES AND IMPROVED PROFITABILITY
Fraud Prevention

Inside The November 2023 Report

  • 11%: Average share of online transactions by eCommerce merchants that fail
  • 61%: Portion of fraud that merchants attribute to technology-driven activity
  • 86%: Share of eCommerce firms that report increased profitability from proactive support from PSPs

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2023-2024 GROWTH CORPORATES WORKING CAPITAL INDEX: LAC EDITION
VISA

Inside The November 2023 Report

  • 13%: Share of top-performing companies in LAC that are highly likely to use virtual cards most in the next 12 months
  • 11%: Share of companies in LAC that used invoice factoring in the last 12 months, highest among all regions covered in the survey
  • 88%: Share of top-performing companies in LAC that used working capital for planned expenses

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MEASURING CONSUMER SATISFACTION WITH INSTANT PAYOUTS
Money Mobility

Inside The November 2023 Report

  • 36%: Share of consumers who receive payouts for freelance or consulting projects most often via instant methods
  • 77%: Portion of consumers who opted to receive instant payments for income and earnings disbursements
  • 78%: Share of consumers who are highly satisfied when receiving disbursements via instant payments

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THE RISE OF EMBEDDED PAYMENTS
Payments As A Service

Inside The November 2023 Report

  • 78%: Portion of marketplaces that have sub-merchant accounts
  • 66%: Share of revenue generated by PayFacs that comes from payment processing
  • 68%: Portion of ISVs that provide services to wholesale companies saying their biggest challenge lies in economic uncertainty

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THE SAVINGS DEEP DIVE EDITION
Consumer Finance

Inside The October 2023 Report

  • 20%: Portion of consumers who cited job losses or income reductions as a reason they depleted their savings
  • 35%: Share of consumers earning $200K+ annually who report increased savings ability compared to 2022
  • 30%: Portion of consumers who dealt with a major expense using a significant percentage of their savings in the last year

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HOW PERSONALIZED CARD-LINKED OFFERS DRIVE STORE CARD USAGE
Loyalty & Rewards

Inside The October 2023 Report

  • 73%: Share of store card owners who are highly interested in using cash-back offers for store cards tied to specific products in the next three months
  • 62%: Share of consumers who shop where they are loyalty or rewards program members who own a store card
  • 35%: Share of store card holders who are highly likely to switch to merchants offering store cards with personalized offers

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DECLINING PURCHASING POWER PUSHES CONSUMERS TO IMPROVE CREDIT SCORES
Debt

Inside The October 2023 Report

  • 34%: Share of credit builder app users who are more likely to have increased their credit score by more than 100 points than those who did not use these apps
  • 59%: Share of consumers who did not try to increase their credit score because they were content with the level of their credit score
  • 21%: Share of average consumers who were able to increase their credit score by more than 100 points
  • 397%: Share of debt Gen X owes as a percentage of their disposable income

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GAMING AND WINNINGS
Money Mobility

Inside The October 2023 Report

  • 18%: Share of consumers who said digital instant payments was the winnings payout method they used the most in the last year
  • 66%: Portion of consumers who prefer instant winnings payouts because they are convenient
  • 76%: Share of consumers who would have chosen a digital instant payout option if available but were not given the choice

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HOSPITALITY AND TIPS
Money Mobility

Inside The October 2023 Report

  • 58%: Portion of hospitality workers who received their tips in cash the most often in the last year
  • 85%: Share of workers receiving tips via digital instant payments who are highly satisfied with this payout method
  • 81%: Portion of hospitality workers who choose instant payments for their convenience

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HOW OPEN BANKING CAN PROVIDE FAST AND EASY CONSUMER PAYOUTS
Real-Time Payments

Inside The October 2023 Report

  • 71%: Share of consumers who received payouts from public institutions and had them sent directly to their bank accounts
  • 50%: Share of millennials who report that the availability of open banking connectivity features highly influence their choice of merchant or provider
  • 48%: Share of consumers who received a larger number of payouts who said connectivity features are their most preferred way to receive funds

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