PERCEPTIONS IN DIGITAL BANKING
Authentication

Inside The March 2023 Report

  • 47%: Share of consumers unsatisfied with their FIs’ current security measures for everyday digital activities and transactions
  • 30%: Share of consumers looking for added visible security when accessing bank accounts
  • 34%: Share of digital-only banking customers who want additional visible security measures when reaccessing a bank account from a familiar device

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THE FALSE APPEAL OF DEAL-CHASING CONSUMERS
Consumer Finance

Inside The March 2023 Report

  • 74%: Share of consumers who have cut back on nonessential retail purchases
  • 46%: Share of retail shoppers who chase deals
  • 40%: Share of persuadable consumers saying ease and convenience most influenced where they choose to shop

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THE DEBT AND CREDIT DEEP DIVE EDITION
Consumer Finance

Inside The February 2023 Report

  • 45%: Share of high-income consumers living paycheck to paycheck as of January 2023
  • 72%: Share of paycheck-to-paycheck consumers without issues paying bills who made holiday or year-end purchases with a credit card
  • 42%: Share of paycheck-to-paycheck consumers living without difficulty who cut back on everyday perks to better manage their credit card debt in the last year

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RISING COSTS PUSH CONSUMERS TOWARD PICKUP
Restaurant innovation

Inside The February 2023 Report

  • 55%: Share of consumers who prefer pickup and say getting a discount if the food is late would persuade them to choose delivery instead
  • 48%: Share of consumers saying inflation has made them more likely to choose pickup
  • 42%: Share of restaurant customers who say they pick up their meals to avoid tipping a delivery person

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CHANGING ECONOMY SPARKS NEW PRIORITIES FOR SYSTEMS SPENDING
Digital Payments

Inside The February 2023 Report

  • 23%: Portion of finance and insurance CFOs who cite expanding their business as the most important reason for investing in improvements to working capital and credit systems
  • 47%: Share of manufacturing CFOs who say the most important reason to invest in digital payments systems was improving their accounts receivable processes
  • 73%: Portion of finance and insurance CFOs who say investments in digital payments technology improved their working capital and credit systems operation

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THE DIGITAL BUSINESSES’ GUIDE TO LATIN AMERICA
Latin America

Inside The February 2023 Report

  • FLEXIBLE PAYMENTS INFRASTRUCTURE: Businesses must be able to add and remove capabilities from their payments stacks to keep ahead of the curve.
  • LINKING PAYMENTS ECOSYSTEMS: Major players are building interoperable payments systems to connect different LatAm countries and the world.
  • DIGITIZING CASH: Local payments providers are building new ways to allow cash-centric LatAm businesses and customers to make digital transactions.

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HOW PATIENTS WANT TO STREAMLINE HEALTHCARE PAYMENTS
Healthcare

Inside The February 2023 Report

  • 54%: Share of consumers who experienced at least one pain point when paying for healthcare expenses in the last year
  • 64%: Share of consumers highly satisfied with tracking their medical bills and insurance payments through a digital portal
  • 70%: Share of consumers interested in a unified digital platform for managing medical bills

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DIGITALLY DIVIDED — WORK, HEALTH AND THE INCOME GAP
Connected Economy

Inside The February 2023 Report

  • 40%: Share of low-income consumers who work remotely from home
  • 71%: Share of high-income consumers who do at least some remote work
  • 46%: Portion of high-income consumers who planned or booked travel tickets or accommodations digitally

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HOW REAL-TIME PAYMENTS DRIVE THE IN-STORE CUSTOMER JOURNEY
Retail

Inside The February 2023 Report

  • 33%: Share of U.S. retailers planning to add real-time payments in the next three years
  • 44%: Portion of retailers citing secure payment data as a reason to implement digital tools in-store
  • 43%: Share of U.K. retailers planning to add real-time payments in the next three years

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THE TRUST FACTOR
Consumer Payments

Inside The February 2023 Report

  • 71%: Share of consumers with difficulty tracking stored credentials who consider updates crucial
  • 8%: Increase in the share of consumers who trust non-FIs to provide vault services
  • 92%: Share of consumers at least somewhat likely to let marketplaces access their vault

A GUIDE FOR DIGITAL STARTUPS
Banking

Inside The February 2023 Report

  • Ensure Alignment: Startups must carefully match their efforts with their global strategy goals
  • Principles of Scalability: Digital startups need strategies that anticipate challenges around liquidity, clearing, payments and settlements
  • Payment Processes and Growth: With strong payment processes in place, startups can find and retain customers

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THE ASCENT OF DIGITAL WALLETS
Consumer Finance

Inside The February 2023 Report

  • 2.8%: Share of online retail purchases completed with buy now, pay later as of Q4 2022
  • 12%: Share of groceries consumers purchased online as of Q4 2022
  • 1.9%: Share of in-store retail purchases completed with Apple Pay as of Q4 2022

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INSURANCE DISBURSEMENTS BRIEF 2022
Disbursements

Inside The February 2023 Report

  •     23%: Share of consumers who would pick instant insurance payouts when given the option
  •     45%: Portion of consumers who would be willing to pay for instant health insurance payouts
  •     62%: Share of insurance disbursements where companies offered customers a choice of payout method

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INVESTING IN PAYMENTS SYSTEMS FOR THE DIGITAL ECONOMY
Payments Innovation

Inside The February 2023 Report

  • 48%: Portion of manufacturers that say improving the payments process is the most important reason to invest in digital AR technology
  • 20%: Share of retailers saying the most important reason to invest in working capital and credit systems is to cut costs
  • 38%: Portion of manufacturers that say the most important reason to invest in working capital systems is to cut costs

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CHANGES IN GROCERY SHOPPING HABITS AND PERCEPTION
Shopping

Inside The February 2023 Report

  • 62%: Share of shoppers who cite convenience as a reason for choosing digital channels to purchase their groceries
  • 52%: Share of consumers who say deals or benefits led them to use digital channels for their grocery shopping
  • 42%: Share of millennial shoppers who cite convenience as the top motivator for their use of digital channels

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RISING HOUSING COSTS DEFLATE ECONOMIC OPTIMISM
Consumer Finance

Inside The February 2023 Report

  • 30%: Share of Gen Z who live in someone else’s home without paying rent or contributing to mortgage payments
  • 60%: Portion of renters who say their rental payments have a notably negative impact on their financial health
  • 34%: Share of lower-income consumers who say monthly rental payments have a very or extremely detrimental effect on their financial health

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FRICTION WITHIN THE BILL PAYMENT EXPERIENCE
Consumer Payments

Inside The February 2023 Report

  • 43%: Share of bill-payers identifying the ability to view billing statements online as a crucial feature of a bill payment platform
  • 54%: Portion of bill-payers who feel a centralized bill payment portal would make tracking bills easier
  • 44%: Share of bill-payers who cite less secure information as the reason for their lack of interest in using a bill payment portal

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THE NEXT FRONTIER OF DIGITAL COMMERCE
Metaverse

Inside The January 2023 Report

  • UNREAL ESTATE: Investors are purchasing and profiting from metaverse real estate
  • SCALING THE WALLET: Integrating existing digital and crypto wallets can help businesses enter the metaverse now
  • CAPTURING MOMENTS: Sports fans can buy NFTs depicting game highlights

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THE ECONOMIC OUTLOOK AND SENTIMENT EDITION
Consumer Finance

Inside The January 2023 Report

  • 55%: Share of consumers who did not purchase a new car in 2022 and do not plan to do so in 2023
  • 35%: Portion of consumers who said they will incur leisure travel expenses in 2023
  • 73%: Share of paycheck-to-paycheck consumers with issues paying bills who cite inflation as the reason they expect a worse financial situation in the next year

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INFLATIONARY PRESSURE SQUEEZES RESTAURANT TIPS
Restaurant innovation

Inside The January 2023 Report

  • 72%: Portion of consumers who say service quality influences the amount left for a tip
  • 72%: Share of patrons who say their tipped amount reflects their overall satisfaction with the restaurant
  • 61%: Portion of restaurant diners who say affinity of the meal influences the amount they tip

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DRIVERS OF CONSUMERS’ BILL PAYMENT PRIORITIES
Consumer Payments

Inside The January 2023 Report

  • 17%: Portion of bill-payers who would pay bills from streaming subscription services in full even when their budget is stretched
  • 23%: Share of millennials who would pay bills with the least payment friction first
  • 72%: Portion of bill-payers with utility expenses who would pay these bills in full even if it means leaving other bills unpaid

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HOW INTEGRATION ENABLES INNOVATION
Innovation

Inside The January 2023 Report

  • 48%: Portion of FIs that consider data standardization to be required when using item-level receipt data
  • 22%: Share of firms that say ML/AI is needed to use receipt data to build digital receipt functionalities
  • 46%: Share of FinTechs that believe integrating receipt data into their existing loyalty and card-linked offer programs is their most difficult challenge

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CONSUMER AUTHENTICATION PREFERENCES FOR ONLINE BANKING AND TRANSACTIONS
Authentication

Inside The January 2023 Report

  • 71%: Share of consumers who used smartphones more frequently than other devices to send to or receive money from friends and family
  • 57%: Share of consumers viewing smartphones and computers as equally secure for online financial transactions
  • 36%: Share of consumers who want their banks to require more visible security measures for infrequent online transactions

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MONEY-STORING APPS GAIN FAVOR WITH CONSUMERS
Consumer Finance

Inside The January 2023 Report

  • 37%: Share of consumers who store money only in general-purpose apps
  • 7%: Portion of consumers who store money only in merchant apps
  • 15%: Share of consumers who store money in both general-purpose and merchant apps

2023 GLOBAL DIGITAL SHOPPING INDEX
Shopping

Inside The January 2023 Report

  • 19%: How much more likely global merchants are to offer in-store kiosk pickup options than consumers are to realize they are available
  • 37%: Portion of global consumers who are digital enthusiasts
  • 46%: Share of global in-store shoppers who used smartphones to enhance their most recent in-store shopping journey

REPLACING PHYSICAL WITH DIGITAL
Mobile Wallets

Inside The January 2023 Report

  • 40%: Share of consumers who have stored airline boarding passes in their mobile wallet
  • 44%: Share of consumers who have used mobile wallets to pay for mobile phone bills
  • 51%: Share of Gen Z consumers who believe mobile wallets can replace most or all uses of physical wallets

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MEET THE ZILLENNIALS
Connected Economy

Inside The January 2023 Report

  • 45%: Portion of zillennials living with their own children
  • 6%: How much less likely zillennials are than millennials to be living paycheck to paycheck
  • 81%: Share of zillennials who play mobile games, use gaming platforms or both

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GROCERY, PHARMACY AND CONVENIENCE RETAILERS
Retail

Inside The January 2023 Report

  • 55%: Share of grocery retailers innovating new payment methods for in-store customers
  • 77%: Portion of retailers that view digital rewards and coupons as key to in-store customer loyalty
  • 43%: Share of retailers in the United Kingdom that plan to add real-time payments in the next three years

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PRODUCT DEVELOPMENT SLOWDOWN TESTS MEMBER LOYALTY
Credit Unions

Inside The January 2023 Report

  • 74%: Share of CUs that offer business lines of credit and noticed rising demand for this type of loan
  • 53%: Portion of CU executives who say they are making very or extremely significant steps to reduce the time needed to set up a loan for a borrower
  • 49%: Share of CU executives for whom a lack of resources is preventing them from bringing innovations to market — up drastically from the 34% of executives who said the same in Q4 2021

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PERCEPTION IS REALITY
Consumer Finance

Inside The January 2023 Report

  • 41%: Share of families with children who have switched to lower-quality groceries
  • 42%: Portion of millennials who have switched to lower-quality groceries
  • 67%: Share of consumers who live paycheck to paycheck who have cut back on nonessential groceries

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BEST PRACTICES AND BUSINESS PERFORMANCE DRIVERS
Subscription Commerce

Inside The January 2023 Report

  • 5%: Portion of subscription-focused firms that actively monitor and analyze customer LTV
  • 50%: Share of total customer churn in the subscription industry caused by involuntary churn due to failed payments
  • $278M: Estimated lost revenue for the subscription industry over the past 12 months due to failed payments

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GAUGING CONSUMER INTEREST
Consumer Payments

Inside The January 2023 Report

  • 77%: Share of consumers who say strong data security is a major factor influencing their willingness to use a payments and credentials vault
  • 58%: Portion of consumers who are at least somewhat likely to switch to merchants that link their services to a payments and credentials vault
  • 40%: Share of consumers who are very or extremely interested in using a payments and credentials vault

RETAILERS, MANUFACTURERS SEEK BETTER WORKFLOWS
Payments Innovation

Inside The January 2023 Report

  • 53%: Share of manufacturers investing in improvements to procurement functions
  • 23%: Portion of retailers planning to invest in improving procurement applications
  • 44%: Share of manufacturers planning to improve working capital and credit systems

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EASING AND ACCELERATING PAYMENTS FROM BUSINESS CUSTOMERS
Accounts Receivable

Inside The January 2023 Report

  • CONNECTION: A modern B2B payments network can connect suppliers’ existing enterprise resource planning (ERP), customer relationship management (CRM) and banking platforms.
  • INTEGRATION: A B2B payments network with AR integration can allow suppliers to send invoices to customers’ current AP portals, collect invoice approval statuses and capture payments immediately.
  • A STREAMLINED PROCESS: A B2B payments network may allow suppliers to improve customer relationship management practices holistically, providing them with a single payments platform that can manage onboarding, transacting and invoicing.

33,000 CONSUMERS ON DIGITAL’S ROLE IN THEIR EVERYDAY LIVES
Connected Economy

Inside The December 2022 Report

  • 19%: Year-over-year increase in consumers’ use of digital to communicate as of November 2022
  • 86M: Number of consumers using at least one type of smart home technology
  • 41%: Portion of consumers ordering groceries online for curbside pickup by the end of 2022

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DIFFERENT PATHS TO DIGITAL TRANSFORMATION
Connected Economy

Inside The December 2022 Report

  • 4%: Rise in digital wallet usage in Q3 across 11 major economies
  • 7%: Overall increase in digital transformation in the U.S. in Q3
  • 5%: Drop in digital grocery subscription use in Q3

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NEW REALITY CHECK: THE PAYCHECK-TO-PAYCHECK REPORT: 2022 YEAR IN REVIEW
Consumer Finance

Inside The December 2022 Report

  • 6.8%: Portion of consumers who annually earn more than $200,000 yet live paycheck to paycheck with issues paying bills
  • 42%: Share of paycheck-to-paycheck consumers with issues paying bills who say they are the sole breadwinner in their household
  • 55%: Portion of consumers living paycheck to paycheck without issues paying bills who recently purchased clothing and accessories

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THE 2022 RESTAURANT DIGITAL DIVIDE: RESTAURANT CUSTOMERS REACT TO RISING COSTS, DECLINING SERVICE
Restaurant innovation

Inside The December 2022 Report

  • 8.6%: Increase in the cost of eating at restaurants in the past year
  • 70%: Share of consumers who say costs at table-service restaurants rose this past year
  • 62%: Share of consumers who say costs have risen at quick-service restaurants

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ONE-STOP BILL PAY PLAYBOOK: EXECUTIVE VIEWS ON THIRD-PARTY BILL PAYMENT SOLUTIONS
Consumer Payments

Inside The December 2022 Report

  • 41%: Portion of firms with less than $10M in annual revenue that identify a lack of payment options as bill-payers’ top recurring complaint
  • 68%: Share of billing executives polled who expect their companies to implement payments-related innovations within the next year
  • 35%: Portion of billing executives who cite bill-payer convenience as the primary reason for their interest in offering one-stop bill payment solutions

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HOW DIGITAL HAS CHANGED THE CONSUMER HEALTHCARE EXPERIENCE AND EXPECTATIONS: JUNE 2022 - DECEMBER 2022 RECAP
Healthcare

Inside The December 2022 Report

  • 49%: Share of consumers using apps and wearables to track their health
  • 97M: Number of consumers streaming healthcare podcasts and videos each month
  • 60%: Portion of financially struggling consumers who use digital healthcare options

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NEW REALITY CHECK: THE PAYCHECK-TO-PAYCHECK REPORT: THE FINANCIAL GOALS EDITION
Consumer Finance

Inside The December 2022 Report

  • 42%: Share of consumers who were living paycheck to paycheck without issues paying their bills in November
  • 31%: Portion of paycheck-to-paycheck consumers with issues paying their monthly bills who say paying off debt is their most important short-term financial goal
  • 22%: Share of millennials who are not saving money and have no pre-existing savings

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CROSS-BORDER PAYMENTS FOR DIGITAL-NATIVE COMPANIES: MANAGING INNOVATION TO ACCELERATE GROWTH
Cross-border Payments

Inside The December 2022 Report

  • INNOVATION: Features that enable multicurrency pricing for goods and services can bolster scalable growth
  • BANKING: International growth requires banking solutions that offer frictionless, efficient payment management tools
  • REGIONAL TARGETING: Cross-border growth strategies should be tailored to match each region and commercial audience

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A GUIDE FOR ENTREPRENEURS AND DIGITAL BUSINESSES
Cross Border Commerce

Inside The December 2022 Report

  • 23%: Share of small businesses that find their current cross-border payment solutions very or extremely satisfactory
  • 38%: Portion of SMBs that reported an increase in cross-border payments sent or received between 2020 and 2021
  • 83%: Share of Brazilian freelancers who have started offering or plan to offer services to new countries

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ACCOUNTS PAYABLE AUTOMATION: TRANSPORTATION COMPANIES INNOVATE TO DRIVE GROWTH
Accounts Payable

Inside The December 2022 Report

  • 55%: Share of transportation companies that see innovating AP platforms as an important goal
  • 51%: Portion of transportation companies highly satisfied with their AP platforms
  • 61%: Share of transportation companies with automated AP processes that are highly satisfied with those platforms

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MAIN STREET HEALTH Q4 2022: SMBS BRACE FOR A RECESSION
SMBs

Inside The December 2022 Report

  • 11%: Portion of SMBs that lowered costs to combat inflation’s effects
  • 55%: Share of SMBs selling mainly online that expect 2022 revenues to increase
  • 38%: Portion of professional services firms that say they are concerned about the uncertain economic landscape

GLOBAL RISK MANAGEMENT: AN INNOVATOR'S GUIDE
Banking

Inside The December 2022 Report

  • Capture: Create or access a system to monitor all transaction data for noncompliance risks
  • Analyze: Create or access a tool that monitors for potential noncompliance issues
  • Distribute: Ensure that compliance-related insights inform payments strategy decisions

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CONSUMERS SEE UNIFIED PLATFORMS AS KEY TO BETTER HEALTH
Healthcare

Inside The December 2022 Report

  • 50%: Portion of urban consumers who are highly interested in using a unified healthcare platform
  • 42%: Share of rural consumers who are highly interested in using a unified healthcare platform
  • 18%: Portion of consumers who say having to use multiple digital platforms is their biggest problem when accessing medical services

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HOLIDAY SHOPPING 2022: DEAL OR NO DEAL
Shopping

Inside The December 2022 Report

  • 25%: Share of low-income consumers planning to skip holiday shopping this year
  • 50%: Share of holiday shoppers spending less this year because they have less disposable income
  • 98M: Number of consumers planning to finance holiday purchases

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IN IT FOR THE LONG HAUL
Consumer Finance

Inside The December 2022 Report

  • 72%: Share of consumers who are very or extremely worried about the U.S. economic situation
  • 4%: Portion of baby boomers and seniors who believe the economy will stabilize within the next six months
  • 24%: Share of baby boomers and seniors who believe the economy will take more than two years to stabilize

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THE NEW PAYMENTS STRATEGY EVOLUTION
Retail

Inside The December 2022 Report

  • 52%: Share of U.S. retailers that accept or plan to accept real-time payments in the next three years
  • 56%: Portion of U.K. retailers that accept real-time payments or have plans to adopt the feature in the next three years.
  • 43%: Share of U.K. retailers that plan to improve or add real-time payments in the next three years

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