Studies Archive

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

Editions:

February 2024 | September 2023 | September 2023 | July 2023 | June 2023

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

Editions:

February 2024 | September 2023

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

Editions:

January 2024 | September 2023 | June 2023

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

Editions:

December 2023 | November 2023

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

Editions:

December 2023 | November 2023

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

Editions:

April 2024 | February 2024 | January 2024

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

Editions:

March 2024 | March 2024 | January 2024 | January 2024 | December 2023

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

THE STATE OF REAL-TIME PAYMENTS

Real-Time Payments

Inside The October 2023 Report

17%: Portion of B2B payments by large retailers made via real-time payments in the last year
90%: Share of large real-estate firms that expect to receive real-time payments in the coming year
90%: Portion of large retailers that cite speed as a top reason for adopting real-time B2B payments

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ECONOMIC MALAISE EXACERBATING U.S. CONSUMER DEBT LEVELS

Debt

Inside The October 2023 Report

348%: Share of debt U.S. consumers owe as a percentage of their disposable income
338%: Portion of debt U.S. consumers living paycheck to paycheck owe as a percentage of their disposable income
397%: Share of debt Gen X owes as a percentage of their disposable income

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Q3 2023: LEADING PAYMENT PROCESSORS SATISFY SMBS, BUT LESS POPULAR PROVIDERS ARE VULNERABLE

SMBs

Inside The September 2023 Report

30%: Portion of Main Street SMBs currently working with less frequently used processors that would consider switching providers
72%: Share of Main Street SMBs citing ease of use as an important factor in choosing a payment processor
49%: Portion of Main Street construction SMBs that cite ease of use as a motivating factor to switch processors

Editions:

December 2023 | June 2023 | April 2023

INSTALLMENT PLANS BECOMING A KEY PART OF SHOPPER’S TOOLKIT

Commercial Payments

Inside The September 2023 Report

65%: Share of Gen Z consumers who have used an installment plan in the last year
74%: Portion of installment plan users who name better spending management as a reason to use a plan
37%: Share of consumers who have not used an installment plan in the last year who cite risk of overspending as a reason

Editions:

February 2024 | February 2024 | December 2023

THE SEASONAL FINANCIAL DISTRESS DEEP DIVE EDITION

Consumer Finance

Inside The September 2023 Report

19%: Portion of U.S. consumers living paycheck to paycheck with issues paying bills in August 2023
49%: Share of consumers who say their finances are particularly tight at specific times of the year
55%: Portion of consumers facing seasonal swings in financial standing who cited events and celebrations as a reason for seasonal financial distress

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THE RETAIL INDUSTRY IS RAMPING UP REAL-TIME PAYMENTS

Real-Time Payments

Inside The September 2023 Report

81%: Portion of retailers planning to enhance real-time payments solutions in the next year
61%: Share of retailers citing strong security as a core benefit of making real-time payments
85%: Portion of retailers likely to work with a FinTech to enhance their real-time payments solutions

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BIOMETRIC AUTHENTICATION IN THE AGE OF MOBILE

Biometrics

Inside The September 2023 Report

26%: Portion of consumers who cite faster checkout as the most important reason to use biometric authentication
51%: Share of Gen Z consumers who have used facial recognition to validate their online purchases
84%: Portion of baby boomers and seniors who did not use biometric authentication methods last month

Editions:

February 2024 | December 2023 | September 2023 | July 2023 | June 2023

A DEEP DIVE INTO THE RETAIL INDUSTRY

Real-Time Payments

Inside The September 2023 Report

17%: Share of B2B payments retail companies made using real-time payments
79%: Portion of retailers citing payment speed as a reason they plan to make more real-time B2B payments
18%: Share of retailers currently enhancing their real-time payments capabilities

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HOW TO PAYFAC

Digital Payments

Inside The September 2023 Report

WHY BE A PAYFAC?: PayFacs have carved out a desirable market for themselves — one mutually beneficial to the acquirers that once viewed them as a competitive threat.
WHAT IT TAKES: Being a PayFac means having risk management as a core competency; PayFacs hold or share responsibility for many details, including merchant onboarding.
ACQUIRERS REQUIRED: A PayFac’s acquirer bank is ultimately responsible for compliance with the various payments and money transmission regulations, managing merchant and transaction risk, and more.

HOW CARD-LINKED OFFERS DRIVE CUSTOMER LOYALTY

Loyalty & Rewards

Inside The September 2023 Report

65%: Share of card users who shop with brands or merchants where they are members of loyalty or rewards programs
41%: Portion of card users who have used a card-linked offer program in the last 12 months
38%: Share of consumers who have not used card-linked offers because they lack familiarity with these programs

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THE STATE OF FRAUD AND FINANCIAL CRIME IN THE U.S.

Fraud Prevention

Inside The September 2023 Report

55%: Share of FIs with assets of more than $5 billion that saw no change in the volume of fraudulent transactions in 2023
12%: Share of fraudulent transactions from scams, with bank tech support impersonation and IRS scams most common
48%: Share of FIs that either are in the process of adding or will add new tech systems to combat fraud in the next year

Editions:

February 2024 | December 2023

2023-2024 GROWTH CORPORATES WORKING CAPITAL INDEX

VISA

Inside The September 2023 Report

32%: Share of Growth Corporate CFOs who used external working capital solutions for strategic growth purposes
34%: Share of Growth Corporates that used external working capital solutions for cyclical shortfalls and seasonal gaps
27%: Share of Growth Corporates that used external working capital solutions for emergencies

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HOW CONSUMERS USE OVERDRAFTS

Consumer Finance

Inside The September 2023 Report

39%: Portion of paycheck-to-paycheck consumers struggling to pay bills who experienced overdrafts or declines
64%: Share of consumers who overdraft their accounts and experienced broader credit accessibility issues
45%: Portion of credit marginalized consumers who experienced overdrafts or declines

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FOCUS ON EUROPE

Financial apps

Inside The September 2023 Report

33%: Share of U.K. consumers emphasizing the importance of two-factor authentication or passkey when logging in to an everyday app
31%: Portion of consumers in Europe who say reputation is crucial in trusting an everyday app provider
36%: Share of consumers who would trust PayPal to offer an everyday app

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THE IMPACT OF SUBSCRIPTION MODELS ON CONSUMER CHOICE

Subscription Commerce

Inside The September 2023 Report

30%: Share of subscribers citing enjoyment as a top reason for joining a retail subscription
45%: Portion of millennials who prefer a multi-model approach to retail subscriptions
18%: Share of subscribers who say cost is the primary determinant for subscribing

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WHAT BNPL NEEDS TO WIN WIDER ADOPTION

BNPL

Inside The September 2023 Report

41%: Portion of BNPL users who used BNPL to pay for clothing and accessories in the last three months
19%: Share of credit card installment plan users annually earning more than $100,000 who used credit card installment plans five times or more in the last three months
56%: Portion of Gen Z BNPL users who are highly satisfied with their BNPL options

Editions:

February 2024 | December 2023 | September 2023 | July 2023 | June 2023

HOW CONSUMERS FINANCED THEIR SUMMER TRAVEL

Credit Cards

Inside The September 2023 Report

42%: Portion of consumers who planned to travel more this summer citing improved financial standing as a factor driving their decision
30%: Share of millennials who used or anticipated using BNPL to pay for their summer travel
31%: Portion of Gen Z consumers who cite fear of overspending as a reason for using payment methods other than credit products

Editions:

January 2024 | November 2023 | June 2023

CONSUMER INTEREST IN AN EVERYDAY APP

Financial apps

Inside The August 2023 Report

37%: Portion of consumers in Australia highlighting seamless payments integration as a top benefit of an everyday app
27%: Share of U.S. consumers who could be persuaded to adopt an everyday app if the provider offered data encryption
37%: Portion of consumers in Australia who would trust PayPal to offer an everyday app

Editions:

October 2022 | October 2022 | July 2022

THE NONESSENTIAL SPENDING DEEP DIVE EDITION

Consumer Finance

Inside The August 2023 Report

61%: Portion of consumers who lived paycheck to paycheck as of July 2023
21%: Share of paycheck-to-paycheck consumers who cite nonessential spending as a reason for their financial lifestyle
36%: Share of Gen Z who describe spending as indulgent for at least three product or service categories

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MANUFACTURING COMPANIES EMBRACE REAL-TIME PAYMENTS

Real-Time Payments

Inside The August 2023 Report

85%: Portion of firms that expect to make more real-time payments citing counterparty acceptance as a reason
85%: Share of small manufacturing firms that regard the ability to make real-time payments as highly important
96%: Portion of manufacturers predicting real-time payments will replace traditional checks for making payments

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BUSINESSES GIVE COMMERCIAL CARDS A FRESH LOOK

B2B Payments

Inside The August 2023 Report

LOWER EFFECTIVE WORKING-CAPITAL COSTS: Higher interest rates heighten the appeal of commercial cards for B2B transactions.
AUTOMATED PROCESSES AND ENHANCED SECURITY: Commercial cards offer real-time visibility into expenses and advanced security measures.
VIRTUAL CARD REVOLUTION: Virtual cards enhance transaction security with temporary card numbers.

Editions:

January 2024 | June 2023

2023 GLOBAL DIGITAL SHOPPING INDEX: INDIA EDITION

ECommerce

Inside The August 2023 Report

53%: Share of surveyed consumers in India who prefer UPI when purchasing retail products online
79%: Share of local consumers who paid for their last retail purchase using a digital wallet with UPI as the underlying payment method
35%: Portion of in-store shoppers in India who use smartphones to price shop in real time

THE CHALLENGE FOR INSURANCE COMPANIES

Real-Time Payments

Inside The August 2023 Report

82%: Portion of smaller firms not currently using real-time payments due to higher costs associated with implementing them
90%: Share of large firms likely to turn to FinTechs for real-time payments solutions, compared to 77% of small insurance companies
55%: Portion of small insurance companies likely to partner with third-party processors for real-time payments innovations

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WHY CFOS RECOGNIZE THE NEED TO AUTOMATE AP/AR WORKFLOWS

Accounts Payable

Inside The August 2023 Report

93%: Portion of CFOs noting reduced days of delay in how invoices are tracked when automating AP processes
64%: Share of CFOs who say they definitely need more automation for their AR processes
82%: Share of firms that have used automation to streamline AP processes that report reduced days of delay and exceptions related to payments

Editions:

July 2023 | July 2023 | July 2023

HOW CREDIT PRODUCT RATES IMPACT FI SELECTION

Credit Unions

Inside The August 2023 Report

45%: Portion of CU executives who say they have made very or extremely significant efforts to cut down credit product setup times.
59%: Share of CU executives who believe product setup times have a major influence on consumer’s decisions of where to apply for credit products
5.8%: Portion of account holders who say that quick access to funds is the most influential factor in deciding where to apply for credit products

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THE CREDIT INSECURE NEED MORE EDUCATION

Consumer Finance

Inside The August 2023 Report

17%: Share of consumers with low credit scores who used a credit builder app primarily for credit-building purposes in the last year
42%: Portion of knowledgeable consumers highly interested in user-friendly materials to improve their credit scores
29%: Share of consumers with low credit scores who have used a credit builder app in the last year

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A DEEP DIVE INTO THE MANUFACTURING SECTOR

B2B Payments

Inside The August 2023 Report

91%: Portion of manufacturers that view real-time payments as crucial to supplier relationships
59%: Share of manufacturers that plan to make more real-time B2B payments
47%: Portion of manufacturers that plan to pay with checks less frequently

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HOW RETAIL SUBSCRIPTION MERCHANTS CAN WIN AND RETAIN HIGH LTV CUSTOMERS

Subscription Commerce

Inside The August 2023 Report

28%: Portion of loyal consumers who would cancel if the merchant renewed their subscription without their permission
20%: Share of bottom-performing merchants that offer guarantees or refunds, compared to 100% of top performers that do
7%: Portion of bottom-performing subscription merchants that allow changes to product selection, compared to 93% of top performers that do

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