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

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

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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

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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

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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

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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

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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

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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

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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.

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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

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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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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

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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

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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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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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