Studies Archive

HOUSEHOLD FINANCES DEEP DIVE EDITION

Consumer Finance

Inside The July 2023 Report

21%: Share of U.S. consumers living paycheck to paycheck with issues paying bills in June 2023
67%: Share of U.S. consumers living alone who live paycheck to paycheck
34%: Portion of parents who share a bank account with their children

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2023 GLOBAL DIGITAL SHOPPING INDEX: UAE EDITION

ECommerce

Inside The July 2023 Report

40%: Portion of brick-and-mortar UAE shoppers who cite immediate product availability as a reason for shopping in-store, less than the 54% of U.S. and 53% of U.K. shoppers who say the same
55%: Share of men in the UAE who used a smartphone to enhance their most recent in-store shopping journey, more than the 45% of women who did the same
43%: Portion of consumers in the UAE who cite easy checkout processes as a reason for preferring to shop online

SOLVING ACCOUNTS PAYABLES’ TOP FRICTIONS WITH AUTOMATION

Accounts Payable

Inside The July 2023 Report

25%: Portion of firms citing invoice errors and discrepancies as the top areas of disruption they recently faced
83%: Share of CFOs reporting that digital technologies supporting AP workflow automations have reduced frictions by better integration of buyer and supplier payments
64%: Portion of firms that added tailored AP software to their ERP systems to automate AP workflows in the last six months

Editions:

August 2023 | July 2023 | July 2023

ISSUERS REPORT 2023: FINTECHS’ INSTANT PAYMENT MISMATCH

Money Mobility

Inside The July 2023 Report

41%: Portion of FinTech issuers that allowed their customers to receive P2P transfers in Q2 2023
28%: Share of consumers citing guarantee of good funds/speed as their most experienced issue when moving funds out of their accounts
32%: Portion of FinTechs that cited limited payment options as their account holders’ most experienced issue when moving funds out of their accounts

Editions:

November 2022 | October 2022

ACCOUNTS RECEIVABLE AUTOMATION SMOOTHS ORDER-TO-CASH CONTINUUM

Accounts Receivable

Inside The July 2023 Report

68%: Portion of CFOs who say payment-related delays were an issue in the last six months
55%: Share of CFOs who say disputes and exceptions were an issue in the last six months
48%: Portion of CFOs who say shipping-related problems were an issue in the last six months

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August 2023 | July 2023 | July 2023

A DEEP DIVE INTO THE INSURANCE INDUSTRY

Real-Time Payments

Inside The July 2023 Report

68%: Portion of insurance firms planning to ramp up real-time payments for inbound transactions that cite speed as a reason for doing so
64%: Share of insurance firms gearing up to introduce additional B2B payment features in the next 12 months
82%: Portion of small insurance firms citing implementation costs as the primary barrier to adopting real-time payments

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HOLISTIC BILL PAY WINS OVER USERS — BUT HOLDOUTS REMAIN

Consumer Payments

Inside The July 2023 Report

91%: Share of billers that use or want to use inclusive bill payment systems that say these systems make the bill pay experience more convenient
97%: Share of consumers who experienced at least one bill pay frustration who are highly interested in using a holistic bill pay platform
43%: Share of billers not interested in providing holistic bill pay saying integration would be too complicated

MONETIZING SOCIAL MEDIA

ECommerce

Inside The July 2023 Report

28%: Portion of consumers who transact on social media because it allows them to buy as soon as the product catches their attention
29%: Share of social media shoppers who used credit cards for their purchase without leaving the app
18%: Portion of social media shoppers who used PayPal for their most recent purchase without leaving the app

Editions:

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

HOW AUTOMATIONS REDUCE RECEIVABLES DELAYS

Accounts Receivable

Inside The July 2023 Report

93%: Portion of companies automating at least 50% of AR processes expressing satisfaction
80%: Share of CFOs citing lack of on-call advisory services as a key barrier in AR automations
63%: Portion of firms with highly automated AR processes experiencing fewer invoicing errors

Editions:

August 2023 | July 2023 | July 2023

CREDIT UNION MEMBERSHIP AND CREDIT PROFILES

Credit Unions

Inside The June 2023 Report

28%: Portion of CU members willing to switch FIs for more innovative experiences
64%: Share of CUs taking wait-and-see approach to innovation
89%: Portion of CU executives who cite operational challenges as key obstacles impacting their innovation agendas

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MITIGATING RISKS AND MAINTAINING LIQUIDITY IN TIMES OF CHANGE

Risk Management

Inside The June 2023 Report

NEED-TO-KNOW BASIS: Understanding the rapidly changing economic environment and trends across treasury management and how technologies, regulations and the industry will likely evolve has become table stakes.
VISIBILITY IS KEY: The improved visibility that today’s tools offer can put savvy organizations in a better position, one that may be particularly valuable given recent economic tightness.
INTERNATIONAL & INTERCONNECTED: Companies must empower their international teams to perform the treasury acts local to their time zones but are also in lockstep with global policies and processes.

Editions:

January 2024 | August 2023

Q2 2023: CREDIT’S KEY ROLE IN SMBS’ PLANS

SMBs

Inside The June 2023 Report

63%: Increase in the share of SMBs planning to use business credit cards compared to those that have access today
40%: Share of SMBs that are most likely to use business credit cards in the next 12 months
31%: Share of Main Street SMBs that will not seek financing in the next 12 months

Editions:

December 2023 | September 2023 | April 2023

THE EMERGENCY SPENDING DEEP DIVE EDITION

Consumer Finance

Inside The June 2023 Report

55%: Share of millennials who report having had at least one unexpected expense in the three months prior to May 2023
46%: Portion of consumers who reported facing emergency expenses in the three months prior to being surveyed
53%: Portion of struggling paycheck-to-paycheck consumers who postponed large expenses due to financial hardship

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BNPL'S WIDE-RANGING IMPACT ON CONSUMERS AND MERCHANTS

Buy Now Pay Later

Inside The June 2023 Report

43%: Portion of consumers who would delay a purchase or opt for a cheaper product if BNPL were unavailable
20%: Share of consumers living paycheck to paycheck with issues paying bills who identify as BNPL users
28%: Portion of consumers for whom the no- or low-interest rate feature is an important factor in choosing to use BNPL

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2023 GLOBAL DIGITAL SHOPPING INDEX: MEXICO EDITION

Payments Innovation

Inside The June 2023 Report

44%: Portion of in-store shoppers in Mexico who shop in-store because they believe the prices are lower than online
10: Number of digital shopping features the average shopper in Mexico uses per purchase, significantly less than any other country in our study
30%: Portion of women in Mexico who want to integrate digital into all aspects of their shopping journeys

FREQUENT MOBILE WALLET BILL PAY USERS THE MOST SATISFIED

Mobile Wallets

Inside The June 2023 Report

85%: Portion of consumers who used mobile wallet bill pay for more than five bills who were very or extremely satisfied
51%: Share of mobile wallet bill pay users who paid bills on the due date
68%: Portion of mobile wallet bill pay users who paid bills on the due date who were very or extremely satisfied with their experience

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THE LOYALTY FACTOR

Subscription Commerce

Inside The June 2023 Report

79%: Share of revenue generated by the top 30% of retail subscribers
$65: Average monthly subscription spend by loyalists
$2,500+: Projected lifetime value of loyalist subscribers

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CATCHING THE COMING ECOMMERCE WAVE

Digital Payments

Inside The June 2023 Report

26%: Portion of consumers saying two-factor authentication would make them more comfortable when shopping online
$129: Average value of a single online retail order
39%: Share of consumers expecting to shop for more health and beauty products online in the next year

Editions:

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

MOBILE WALLETS GAIN POPULARITY, BUT HURDLES REMAIN

Mobile Wallets

Inside The June 2023 Report

60%: Share of consumers who paid bills via mobile wallet in the last year
79%: Portion of millennials who paid bills via mobile wallet in the last year
42%: Share of consumers disinterested in mobile wallet bill pay who cited security concerns as the main reason for their lack of interest

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2023 GLOBAL DIGITAL SHOPPING INDEX: BRAZIL EDITION

ECommerce

Inside The June 2023 Report

50%: Share of brick-and-mortar shoppers in Brazil who use smartphones while shopping in store
57%: Share of brick-and-mortar shoppers in Brazil who cite immediate availability as a reason for shopping in store
23%: Portion of shoppers in Brazil who shopped paid for their most recent purchase entirely via mobile

HOW YOUNGER CONSUMERS MAKE CREDIT DECISIONS

Consumer Payments

Inside The June 2023 Report

24%: Portion of consumers citing rewards as the most important reason for using BNPL instead of other payment options
14%: Share of Gen Z consumers who used BNPL to make a purchase in the last 90 days
52%: Portion of millennials citing better spending management as the main reason they use credit products

Editions:

January 2024 | November 2023 | September 2023

CONSUMER BEHAVIOR IN FOCUS

Security & Fraud

Inside The May 2023 Report

62%: Portion of all retail banking consumers willing to forego convenience for enhanced security for their sensitive information
41%: Share of consumers open to sharing sensitive information with existing insurance providers for better transaction security
50%: Share of digital bank customers willing to disclose personal data with existing insurance providers for improved transaction security

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THE REGIONAL DIVIDE EDITION

Consumer Finance

Inside The May 2023 Report

82%: Portion of urban consumers who have outstanding credit card balances
64%: Share of paycheck-to-paycheck consumers living in the Western U.S. in April 2023
23%: Portion of Northeastern urban dwellers who cite dependent relatives as the most important reason why they live paycheck to paycheck, significantly more than any other region

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THE LURE OF PAYMENT METHOD REWARDS

Payments Innovation

Inside The May 2023 Report

20%: Share of millennials who do not use any payment method when they cannot earn points or rewards
29%: Portion of millennials interested in online bank transfer for retail transactions if they are able to earn points or rewards
35%: Share of Gen X consumers who prefer to use a payment method because of the ability to earn points or rewards

Editions:

April 2023 | November 2022 | November 2022

DAILY DIGITAL ENGAGEMENT HITS NEW HEIGHTS

Connected Economy

Inside The May 2023 Report

17%: Share of global in-person purchases made using mobile wallets
29%: Year-over-year growth in the use of Big Tech wallets — Apple Pay, Google Pay and Samsung Pay
37%: Portion of digital purchases in Japan using local FinTech wallets, up 46% from Q1 2022

Editions:

December 2022 | September 2022

WHAT BABY BOOMERS AND SENIORS WANT FROM DIGITAL HEALTHCARE PLATFORMS

Healthcare

Inside The May 2023 Report

20M: Estimated number of baby boomers and seniors with high interest in using unified digital healthcare platforms
57%: Share of baby boomers and seniors interested in using digital healthcare platforms citing convenient access to healthcare information as a key reason
85%: Portion of baby boomers and seniors who prefer to access pharmacy benefits and insurance info through digital healthcare platforms

Editions:

February 2023 | December 2022

A DEEP DIVE INTO THE REAL ESTATE INDUSTRY

Real-Time Payments

Inside The May 2023 Report

70%: Portion of real estate firms citing speed as a reason for wanting to receive real-time payments
14%: Share of real estate firms planning to adopt virtual card payments in the next year
52%: Portion of real estate firms planning to adopt virtual cards because of transaction speed

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WHY HOLISTIC PAYMENT EXPERIENCES WILL WIN THE PAYMENT PLATFORM WAR

Platform Payments

Inside The May 2023 Report

62%: Share of consumers who experienced multiple payment pain points who say they would want access to a holistic bill payment platform
36%: Share of consumers who reported experiencing 10 or more bill payment pain points who say they would be very or extremely interested in a holistic platform
82%: Share of billers who say they think a holistic bill payment platform would help streamline their processes

STAYING AHEAD THROUGH PAYMENTS INNOVATION

Credit Unions

Inside The May 2023 Report

65%: Portion of bank account holders who want more innovative payment methods from their FIs
80%: Share of account holders willing to switch FIs for access to innovative products who would like to see their current FIs or CUs make more payment products available
39%: Portion of millennials who would switch or consider switching FIs in favor of innovation

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CREDIT CARD USE DURING ECONOMIC TURBULENCE

Credit Cards

Inside The May 2023 Report

45%: Portion of consumers with credit cards who carry a revolving balance
31%: Share of cardholders prioritizing rewards and cash back programs
68%: Portion of high-spending non-revolvers valuing real-time fraud detection alerts above all other features

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ADOPTING SUBSCRIPTION COMPANIES’ TOP-PERFORMING PAYMENT RECOVERY STRATEGIES

Subscription Commerce

Inside The May 2023 Report

22%: Average increase in revenue subscription businesses recovered for every additional payment recovery method used
47%: Share of top-performing subscription providers that use at least one specialized third-party payment recovery solution
43%: Share of subscription providers with low annual churn rates that exclusively use third-party payment recovery solutions

Editions:

March 2023 | January 2023 | September 2021

THE GENERATIONAL DEEP DIVE EDITION

Consumer Finance

Inside The April 2023 Report

66%: Share of Gen Z consumers who lived paycheck to paycheck in March 2023
51%: Share of baby boomers and seniors who have experienced at least one financially distressing event in the last three years
73%: Share of Gen Z paycheck-to-paycheck consumers who have spent $100 on a nonessential expense in the last three months

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HOW CREDIT INSECURITY IS CHANGING U.S. CONSUMERS’ BORROWING HABITS

Loans

Inside The April 2023 Report

46%: Portion of credit insecure consumers who could not get more credit due to their credit scores
86%: Share of credit marginalized consumers who live paycheck to paycheck and thus are more susceptible to negative financial impacts from life events
21%: Portion of credit marginalized consumers did not apply for new credit products due to a fear of rejection

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CONSUMER BEHAVIORS AND PERCEIVED SECURITY ACROSS DEVICES

Security & Fraud

Inside The April 2023 Report

76%: Portion of consumers who believe smartphones are secure and are likely to use them for personal cash transfers
83%: Share of banking consumers who want multifactor authentication for infrequent transactions
42%: Portion of consumers who want to verify their identity every time they pay for goods or services

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HOW CONSUMERS WANT TO LIVE IN THE VOICE ECONOMY

Mobile Commerce

Inside The April 2023 Report

54%: Share of consumers who would prefer voice technology in the future because it is faster than typing or using a touchscreen
27%: Share of consumers who have used a voice-activated device or speaker in the last 12 months
22%: Share of Gen Z consumers highly willing to pay more than $10 per month to use a voice assistant as smart and reliable as a real person

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BRIDGING THE GAP BETWEEN SUBSCRIPTION CONVERSION AND RETENTION

Subscription Commerce

Inside The April 2023 Report

11%: Increase in the share of consumers with retail subscriptions since September 2022
62%: Share of subscribers that cite cost savings associated with free shipping as a primary reason for subscribing
97%: Portion of top-performing subscription providers that offer the ability to pause or modify subscriptions

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WHAT ENTERPRISE CUSTOMERS NEED TO KNOW NOW

Digital Banking

Inside The April 2023 Report

Education: Enterprises must explain the benefits of open banking and new amenities so clients and customers can try them safely.
Enabling Open Banking: Banks must embrace an end-to-end digital architecture, which requires modern banking platforms that are elastically scalable and based on APIs.
A Worldwide Phenomenon: Outside the EU, six more markets are currently developing open banking APIs and market standards for open banking are emerging in more than 10 others.

Editions:

March 2023 | February 2023 | December 2022 | October 2022 | June 2022

2023 GLOBAL DIGITAL SHOPPING INDEX: UNITED KINGDOM EDITION

Merchant Innovation

Inside The April 2023 Report

86%: Share of U.K. eCommerce shoppers who had their most recent purchases delivered
28%: Portion of U.K. consumers who shopped and paid for their most recent purchase entirely via mobile
50%: How much likelier merchants are to offer free shipping than shoppers are to realize free shipping is available

THE FUTURE OF REAL-TIME PAYMENTS IN REAL ESTATE

Real-Time Payments

Inside The April 2023 Report

77%: Portion of real estate firms planning to start making real-time payments in the next year
65%: Share of real estate firms that think real-time payments will replace standard ACH as a method of making payments
80%: Portion of real estate companies citing the receiver’s ability to accept standard ACH payments as the reason for using that method

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BRIDGING THE CRYPTOCURRENCY DIVIDE — WHY MEMBERS WANT ACCESS, WHY CREDIT UNION EXECUTIVES RESIST

Credit Unions

Inside The April 2023 Report

56%: Portion of CU executives slightly or not at all interested in providing cryptocurrency products for their members
83%: Share of consumers who have not owned cryptocurrency in the past year who say they do not even know if their financial institution provides cryptocurrency products and services
61%: Portion of cryptocurrency users who say they are highly likely to purchase cryptocurrency this year

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Q1 2023: USING FINANCE TO EASE RECESSION FEARS

SMBs

Inside The April 2023 Report

31%: Portion of Main Street SMB owners who would use their personal credit cards to manage a cash flow shortfall
23%: Share of Main Street SMBs citing economic uncertain as their most pressing challenge
40%: Portion of Main Street SMBs with annual revenues between $1M and $10M without readily available financing

Editions:

December 2023 | September 2023 | June 2023

BUILDING STRONGER CUSTOMER TIES WITH PAY BY BANK TRANSFER

Payments Innovation

Inside The April 2023 Report

19%: Share of consumers citing difficulty initiating disputes with payees when using pay by bank transfer for their most recent online purchase
23%: Portion of pay by bank transfer users who cite speed as the most important reason for choosing this method for online purchases
36%: Share of Gen X consumers highly likely to use pay by bank transfer for retail purchases if offered rewards

Editions:

May 2023 | November 2022 | November 2022

INSTANT PAYOUTS REACH AN INFLECTION POINT

Disbursements

Inside The April 2023 Report

26%: Share of consumers willing to pay a fee to receive government disbursements instantly
69%: Portion of paycheck-to-paycheck consumers who select instant disbursement options when available
28%: Share of bridge millennials who prefer instant disbursements but opt out because they have to pay a fee

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THE EVOLVING DIGITAL DAILY EDITION

Connected Economy

Inside The March 2023 Report

11: Number of different types of online transactions consumers make per month
14%: Share of consumers performing digital banking transactions every day
86M: Number of consumers using voice assistants each month

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TRADITIONAL FIS FIGHT DIGITAL ALTERNATIVES FOR CONSUMER TRUST

Digital Payments

Inside The March 2023 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

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THE SUPPLEMENTAL INCOME EDITION

Consumer Finance

Inside The March 2023 Report

48%: Portion of high-income consumers living paycheck to paycheck in February 2023
55%: Share of consumers whose supplemental income represented more of their total monthly income over the last 90 days
62%: Portion of struggling paycheck-to-paycheck consumers whose supplemental income represented more of their total monthly income over the last 90 days

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EXPANDING THE PAYMENTS PALETTE

Payments Innovation

Inside The March 2023 Report

59%: Share of healthcare companies that have not invested in ePayables that plan to begin spending on the necessary digital technology to support them
81%: Portion of healthcare companies reporting plans to continue investing in real-time payments technology
37%: Share of finance and insurance firms and healthcare companies that support ePayables

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2023 MONEY MOBILITY INDEX

Money Mobility

Inside The March 2023 Report

6: Overall Index score of firms offering less than three instant payment methods
5: Overall Index score of firms offering six or more instant payment methods
26%: Share of bottom-performing FinTech issuers that say their customers have no problems with transfer speed when moving money

Editions:

November 2022 | July 2022 | June 2022 | April 2022 | March 2022

HOW DIGITAL CAN HELP SMBS PUNCH ABOVE THEIR WEIGHT

SMBs

Inside The March 2023 Report

7: How many fewer digital shopping features SMBs offer than larger competitors
48%: Year-over-year increase in the share of in-store shoppers paying via digital wallet
32%: How many fewer SMBs than large merchants offer mobile-optimized sites

WHY DATA INFRASTRUCTURE IS KEY TO A BETTER CUSTOMER EXPERIENCE

Merchant Innovation

Inside The March 2023 Report

81%: Share of high data-readiness firms that consider technical infrastructure highly influential when strategizing item-level receipt data innovation
33%: Portion of firms offering fraud solutions that cite customer experience improvements as a benefit of using item-level receipt data
88%: Share of firms highly interested in using receipt data to provide loyalty and shopping offerings that believe incorporating item-level receipt data is highly important

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