THE CONNECTED ECONOMY™: PATIENTS PREFER PAYMENT CONSISTENCY
Connected Economy

Inside The July 2022 Report

  • 33%: Share of consumers who use debit cards when making an in-person healthcare payment
  • 26%: Share of consumers who use credit cards when making an in-person healthcare payment
  • 11%: Share of consumers who use PayPal when making an in-person healthcare payment

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THE HEALTHCARE CONUNDRUM: THE IMPACT OF UNEXPECTED PATIENT COSTS ON CARE
Healthcare Financing

Inside The July 2022 Report

  • 19%: Share of patients who spent more than they could afford on healthcare in the past year
  • 32%: Share of high-income consumers who were very or extremely likely to switch healthcare providers for a better payments experience after paying out of pocket
  • 74%: Share of unwell millennials who canceled an appointment because they received a high cost estimate

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FINANCIAL INSTITUTIONS AND CUSTOMER LOYALTY: THE VALUE OF INVESTING IN YOUR COMMUNITY
Consumer Finance

Inside The July 2022 Report

  • 42% of consumers who contributed to charity did business with their community’s service providers
  • 20% of consumers who spend less than $1,000 on their credit cards each month without revolving a balance say they would switch their financial institution based upon its charitable support
  • 57% of consumers who volunteer significant time to charity and donate more than $1,000 each year say they would switch their financial institution based on its charitable support

THE PITFALLS OF PAYMENT DIVERSIFICATION
Consumer Finance

Inside The July 2022 Report

  • 16%: Share of Gen Zers that used Apple Pay when purchasing travel services
  • 66%: Share of baby boomers that used credit cards when purchasing travel services
  • 12%: Share of U.S. consumers who experienced a declined payment in June, a 2% increase from May

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THE NEW B2B AUTHENTICATION STANDARD: THE SHIFT TOWARD AUTOMATED DIGITAL IDENTITY VERIFICATION
Fraud Prevention

Inside The July 2022 Report

  • 36%: Share of firms that use proactive and automated solu­tions and consider all methods to verify new business clients’ identities equally important.
  • 15%: Share of organizations that say using search engines to verify a new business’s address is the most important verification method.
  • 50%: Share of firms that implement automated solutions for digital identity verification and are satisfied with their current solutions

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RESTAURANT READINESS INDEX - JULY 2022
Restaurant innovation

Inside The July 2022 Report

  • 53%: Share of U.S. restaurants that remain at least moderately dependent on digital channels
  • 12%: Overall decrease in restaurant digital readiness in 2Q 2022 versus 3Q 2021 
  • 56%: Share of restaurant managers with metaverse interest whose motivation is to find new, younger customers

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SUPER APP SHIFT: HOW CONSUMERS WANT TO SAVE, SHOP AND SPEND IN THE CONNECTED ECONOMY
Consumer Finance

Inside The July 2022 Report

  • 45%: Share of respondents very worried about being hacked when using a super app
  • 41%: Share of consumers reporting they likely would increase their banking activities if they had access to a super app
  • 50%: Share of respondents who say they use connected devices to make shopping more convenient

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MONEY MOBILITY: AN API-BASED INNOVATION GUIDE FOR FINTECHS
Money Mobility

Inside The July 2022 Report

  • Money mobility allows consumers and businesses to send, receive and manage payments in any form of currency to any account securely and easily, regardless of the device, type of currency or payment method.
  • APIs play a key role in money mobility, giving FinTechs the ability to provide any-to-any payments and disbursements to clients while gaining the benefits of advanced fraud and compliance tools. 
  • APIs help FinTechs shorten processing times and respond to consumers’ needs more intuitively by allowing them to easily add new capabilities to their app or product as needed. 

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DISPUTE-PREVENTION SOLUTIONS: PROTECTING PROFITS AND CUSTOMER RELATIONSHIPS WITH THIRD-PARTY TOOLS
Fraud Prevention

Inside The July 2022 Report

  • 35%: Share of merchants that also rely on front-end dispute-prevention tools to lessen the likelihood that customers will dispute transactions
  • 56%: Portion of merchants that say third-party dispute-resolution tools improve their customers’ shopping experiences
  • 77%: Share of merchants that say the costs from fraud and disputed transactions have been one of the largest sources of disputes-related pain during the past year

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BUNDLED BANKING PRODUCTS: MATCHING PRODUCT OFFERINGS WITH CUSTOMER DEMAND
Banking

Inside The July 2022 Report

  • 76%: Share of bank customers with six or more banking products who want bundled solutions that provide payment method recommendations for specific transactions
  • 65%: Portion of bridge millennials who would consider moving their accounts out of banks that do not offer bundled banking products
  • 60%: Share of consumers who get cards from their primary banks simply because the banks offer them

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DIGITAL DIVIDE: THE MOVE TO THE METAVERSE
Loyalty & Rewards

Inside The July 2022 Report

  • 27%: Share of consumers who have recently visited only chain restaurants who are highly interested in the metaverse
  • 94%: Share of Gen Z consumers interested in using digital technologies to make restaurant purchases
  • 43%: Share of consumers who used two or more technologies to order their most recent restaurant meals who say they are strongly interested in the metaverse

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THE RACE TO MEET CONSUMER DEMAND
Credit Unions

Inside The July 2022 Report

  • 56%: Share of FinTechs providing CUs with digital products that say CUs are taking too long to adopt new technology
  • 60%: Portion of CUs investing in innovative products such as real-time and P2P payments
  • 17%: Share of CUs classified as early launchers of new products

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WALMART+ WEEKEND: PRIME RIVAL OR TRIP TO THE GROCERY STORE?
Retail

Inside The July 2022 Report

  • 25%: Share of Walmart+ members who cite free shipping as their top reason for subscribing
  • 64%: Portion of Prime subscribers who cite free shipping as their most important reason for subscribing
  • 22%: Share of Walmart+ members who cite same-day grocery delivery as the most important reason for subscribing

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THE RISE OF THE SMART HOME
Connected Economy

Inside The July 2022 Report

  • 38%: Share of U.S. consumers who engaged in transactional activities last month
  • 21%: Share of U.S. consumers who transact on their FIs’ site or app every day
  • 53M: Estimated number of U.S. consumers ordering food online every day

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THE ONGOING BATTLE FOR CONSUMER RETAIL SPEND: AMAZON VERSUS WALMART Q1 2022: THE GROCERY WILD CARD
Retail

Inside The July 2022 Report

  • 53%: Amazon’s share of all eCommerce spending in the U.S.
  • $566B: Amazon’s gross revenue in 2021
  • $472B: Walmart’s gross revenue in 2021

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SUBSCRIPTION COMMERCE CONVERSION INDEX - JULY 2022
Subscription Commerce

Inside The July 2022 Report

  • 87%: Share of food and beverage subscription providers that offer multiple plans to initial subscribers
  • 3.9: Average number of subscriptions held by consumers in May 2022
  • 82%: Share of subscribers who cite enjoyment as an important reason to have a subscription

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THE CONNECTED ECONOMY™: THE TREND TOWARD DIGITAL HEALTHCARE
Connected Economy

Inside The June 2022 Report

  • 36%: Share of Gen Z patients who do not use digital healthcare services of any kind
  • 41%: Share of consumers living paycheck to paycheck who use both telemedicine and remote counseling services
  • 26%: Portion of U.S. patients who sought out both telemedicine and remote counseling services in May 2022

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MEETING THE CHALLENGE OF PAYMENTS MODERNIZATION: UNDERSTANDING CUSTOMER NEEDS
B2B Payments

Inside The June 2022 Report

  • 32%: Portion of Fls serving middle-market companies that currently provide supplier portals
  • 30%: Share of Fls that say their digital solutions are "very" or "extremely" effective in tackling B2B payments frictions
  • 95%: Share of Fls serving large enterprises that provide digital lockboxes to reduce B2B payments frictions

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ACCELERATING THE TIME TO REALIZED REVENUE: THE VIRTUAL CARD EDITION
Payments Innovation

Inside The June 2022 Report

  • 57%: Portion of U.S. and Canadian firms using virtual cards that cite greater transaction detail as a key benefit
  • 38%: Share of U.S, and Canadian firms that have not adopted virtual cards due to lack of expertise
  • 36%: Share of U.S. and Canadian healthcare firms using virtual cards to make B2B payments

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

Inside The June 2022 Report

  • 30%: Portion of U.S. consumers who earn more than $250,000 living paycheck to paycheck in May 2022
  • 77%: Share of paycheck-to-paycheck consumers struggling to pay bills who experienced events that caused financial distress
  • 19%: Share of paycheck-to-paycheck consumers who spent more than they made over the last six months

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DEDUCTIONS MANAGEMENT PLAYBOOK: NAVIGATING RISK AND SEEDING INNOVATION
Risk Management

Inside The June 2022 Report

  • Maximizing profit: Deductions management is essential to helping CPG firms reduce profit leakage and recoup costs.
  • Saving time: Automating deductions management streamlines processes and frees up resources to focus on more value-added tasks.
  • Easy resolution: Automated workflows effectively facilitate dispute settlement when invalid deductions occur.

THE MAKING OF A MODERN CLEARING BANK: A MORE EFFICIENT MODEL FOR PAYMENTS CERTAINTY AND MANAGING RISK
Banking

Inside The June 2022 Report

  • $1.6T: Annual global B2C transaction value, including salaries and interest payments
  • 30%: Share of U.S.-based firms that have experienced significant payment delays
  • $2.8T: Annual global C2B transaction value, including cross-border Commerce and offline tourism spend

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NAVIGATING THE UNEXPECTED: DEVELOPING A LONG-TERM TREASURY AND TRADE RISK STRATEGY
Risk Management

Inside The June 2022 Report

  • TARIFF BARRIERS: Trade tensions can swiftly lead to unexpected tariffs, altering supply chain flows.
  • TRADE RULES: Trade rules may shift suddenly, causing long-term consequences for Commerce companies.
  • ECONOMIC CHANGES: Economic changes make access to real-time data essential for treasurers.

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DIGITAL DIVIDE: TECHNOLOGY, CUSTOMER SERVICE AND INNOVATION IN THE RESTAURANT INDUSTRY
Loyalty & Rewards

Inside The June 2022 Report

  • 40%: Share of consumers interested in incorporating restaurant purchases into their metaverse experience
  • 76%: Portion of consumers who consider being served by the same wait staff to be a positive
  • 60%: Share of independent restaurant enthusiasts who cite the taste of food as their primary motivator when choosing an eatery

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PAYMENT METHOD DIVERSIFICATION
Consumer Finance

Inside The June 2022 Report

  • 57%: Portion of HPD consumers who went to the store in their most recent retail shopping experience
  • 26%: Share of HPD consumers who made an online purchase via a mobile device on their most recent shopping experience for non-grocery retail goods
  • 18%: Share of consumers who live paycheck to paycheck and have issues paying their bills who are in the HPD category

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PAYING WITH CRYPTOCURRENCY: WHAT CONSUMERS AND MERCHANTS EXPECT FROM DIGITAL CURRENCIES
Cryptocurrency

Inside The June 2022 Report

  • 77%: Share of merchants that accept crypto that cite lower transaction processing fees relative to other payment methods as a reason for its appeal
  • 32%: Share of businesses that are expanding usage of crypto that say it appeals to them because they believe it can help them reach new customers
  • 27%: Portion of consumers earning more than $100,000 annually who have held a cryptocurrency in the past year

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2022 GLOBAL DIGITAL SHOPPING PLAYBOOK: BRAZIL EDITION
Shopping

Inside The June 2022 Report

  • 53%: Share: of Brazilian shoppers who used smartphones to assist their most recent retail journeys
  • 17%: Portion of Brazilian eCommerce shoppers who picked up their most recent purchases in-store
  • 63%: Share of Brazilian merchants that provide in-store navigation apps

CREDIT CARD SURCHARGES: CONSUMER EXPERIENCE AND CHOICE
Credit Cards

Inside The June 2022 Report

  • 77%: Share of consumers who used cash when they switched payment methods to avoid a credit card surcharge
  • 59%: Share of consumers who have used a credit card to pay in stores over the past year
  • 88%: Portion of consumers who paid a credit card surcharge despite resistance

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MONEY MOBILITY: DELIVERING MONEY-OUT MOBILITY AT SCALE
Money Mobility

Inside The June 2022 Report

  • 23%: Share of consumers who made online payments to friends and family in other countries that used at least one type of cryptocurrency
  • 56%: Portion of cryptocurrency exchanges worldwide that do not use KYC screening mechanisms
  • 64%: Share of bridge millennials in 2021 who were interested in using voice commands to control financial accounts

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ACCELERATING THE TIME TO REALIZED REVENUE: THE REAL-TIME PAYMENTS EDITION
Payments Innovation

Inside The June 2022 Report

  • 37%: Share of Canadian firms that would be very or extremely interested in using real-time payments
  • 31%: Portion of U.S. and Canadian firms that see 24/7 year-round access as a key benefit of real-time payments
  • 55%: Share of Canadian firms not interested in real-time payments that cite fraud concerns as the reason why

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THE AP/AR QUICK-START GUIDE: HOW PLATFORMS CAN OPTIMIZE CUSTOMER EXPERIENCE THROUGH PAYMENTS MODERNIZATION
Accounts Payable

Inside The June 2022 Report

  • 21%: Share of smaller firms that use instant payments and digital wallets
  • 52%: Portion of SMBs that believe an all-in-one payment solution would improve their efforts to manage cash flow
  • 60%: Share of SMBs that believe an all-in-one payment solution would save them time when managing incoming payments

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BUILDING NEW MARKET S AND BETTER OPPORTUNITIES
Commerce

Inside The June 2022 Report

  • Gender Bias: Many female entrepreneurs report increased difficulties securing loans or financing.
  • An eCommerce Boost: Female entrepreneurs say that improving eCommerce service accessibility can help drive business growth.
  • Local Communities: Female entrepreneurs tend to reinvest more of their earnings in their local communities than their male counterparts.

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DIGITAL DIVIDE: TECHNOLOGY, THE METAVERSE AND THE FUTURE OF DINING OUT
Loyalty & Rewards

Inside The June 2022 Report

  • 58%: Share of grab-and-go customers who think more restaurant technology means better customer service
  • 76%: Share of consumers earning over $100,000 annually who believe waitstaff continuity is a concern
  • 18%: Share of consumers who have participated in a metaverse environment

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REFRAMING ANTI-FRAUD STRATEGY: DEVELOPING A PROACTIVE APPROACH TO FRAUD RISK MANAGEMENT
Fraud Prevention

Inside The June 2022 Report

  • 47%: Share of B2B businesses that have chosen not to onboard new clients due to fraud concerns
  • 71%: Portion of organizations that plan to implement better digital solutions for fraud prevention
  • 50%: Share of organizations that see implementing better digital solutions as the most important plan to prevent fraud-related issues

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RELATIONSHIP COMMERCE: BUILDING LONG-TERM BRAND ENGAGEMENT
Commerce

Inside The June 2022 Report

  • 79%: Share of consumers who participate in at least one retail membership, subscription or loyalty program
  • 90%: Portion of consumers who are likely to buy more products from brands they believe understand their buying preferences
  • 77%: Share of consumers with retail subscriptions who buy more products from brands they have relationships with than from those they do not

FINDING THE BALANCE BETWEEN SECURITY AND CONVENIENCE
Authentication

Inside The June 2022 Report

  • 24%: Share of consumers who say their personal data is valuable to all entities
  • 53%: Share of consumers who say that a consistent experience across different platforms strongly impacts their trust in FIs
  • 73%: Portion of consumers who access financial accounts via multiple devices who are willing to log in with alternative authentication methods

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NEW REALITY CHECK: THE PAYCHECK-TO-PAYCHECK REPORT: THE HIGH EARNERS EDITION
Consumer Finance

Inside The May 2022 Report

  • 60%: Share of paycheck-to-paycheck consumers who earn more than $200,000 who "never" or "rarely" revolve their credit balances
  • 22%: Share of consumers earning more than $250,000 a year who report having three credit cards
  • 61%: Portion of U.S. consumers living paycheck to paycheck in April 2022

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THE BRICK-AND-MORTAR ECONOMY GOES DIGITAL
Connected Economy

Inside The May 2022 Report

  • 53%: Share of consumers who placed orders via restaurants’ websites or apps in April
  • 84M: Number of consumers who went online to complete at least some part of their travel journeys
  • 43%: Share of consumers who reported regularly engaging in digital-first activities in April 

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DIGITAL ECONOMY PAYMENTS: HOW CONSUMERS PAY IN THE DIGITAL WORLD
Consumer Finance

Inside The May 2022 Report

  • 8.5%: Rise in consumer prices in the United States by the end of March
  • 49%: Share of Americans earning more than $100,000 per year who lived paycheck to paycheck in March
  • 16%: Portion of millennials who encountered payment fraud

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CROSS-BORDER PAYROLL AND CONTRACTOR PAYMENTS REPORT
Payroll

Inside The May 2022 Report

  • 47%: Share of firms that cited managing taxes as the most common challenge when hiring globally
  • 60%: Share of firms that reported hiring more international workers from 2020 to 2021
  • 33%: Portion of firms that said global expansion is their most important reason for hiring internationally

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2022 GLOBAL DIGITAL SHOPPING PLAYBOOK: AUSTRALIA EDITION
Shopping

Inside The May 2022 Report

  • 24%: Portion of Australian eCommerce shoppers who picked up their last purchases in-store
  • 32%: Share of Australian shoppers who used smartphones to enhance their most recent in-store shopping journeys
  • 56%: Portion of Australian merchants that support in-store navigation apps

THE TAILORED SHOPPING EXPERIENCE: MEETING CONSUMERS’ ONLINE EXPECTATIONS
Shopping

Inside The May 2022 Report

  • 45%: Portion of consumers who say easily finding the exact product they want influences their interest in tailored online shopping experiences
  • 34%: Share of consumers uninterested in tailored online shopping experiences due to high delivery costs
  • 30%: Share of online shoppers who are "very" or "extremely" likely to prefer merchants that offer tailored online shopping experiences

SATISFACTION IN THE AGE OF ECOMMERCE: HOW ONLINE MERCHANTS ARE CULTIVATING LONG-TERM CUSTOMER TIES
ECommerce

Inside The May 2022 Report

  • 85%: Share of consumers who say they trust their favorite retailers "very much" or "extremely"
  • 55%: Portion of online retail shoppers who want to be able to review online product descriptions and reviews while browsing
  • 57%: Share of grocery shoppers who say it is important for them to shop with online grocers that make the shopping experience easy and reliable

STREAMLINING BILL PAYMENT: HOW FRICTIONLESS EXPERIENCES DRIVE CUSTOMER ENGAGEMENT
Consumer Payments

Inside The May 2022 Report

  • 85%: Share of all recurring monthly bills consumers pay digitally
  • 40%: Portion of respondents who say they are “very” or “extremely” interested in an improved billing experience
  • 39%: Share of consumers who use automatic payment at due date to pay recurring monthly bills

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THE NEW DIGITAL SHIFT: CREATING A CLOUD-BASED RISK MANAGEMENT STRATEGY
AML

Inside The May 2022 Report

  • TRANSACTION VISIBILITY: FIs need visibility across multichannel transactions and data management processes to ensure compliance.
  • SCALABLE RISK MANAGEMENT: A scalable risk management strategy requires a single source of truth to identify and block security and compliance vulnerabilities.
  • MICROSERVICES ADOPTION: Adopting microservices for security and risk management speeds innovation processes and improves operations scalability.

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HIGH-VOLUME ACCOUNTS PAYABLE: ACHIEVING LONG-TERM GROWTH THROUGH AUTOMATION
Accounts Payable

Inside The May 2022 Report

  • 47%: Portion of companies that say they can handle 50% growth in their AP volume “very” or “extremely” well
  • 31%: Share of companies that process large monthly volumes of payables and plan to innovate their AP systems within six months
  • 27%: Share of companies that process large volumes of payables each month and plan to innovate their AP systems within the next year

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MEETING THE CHALLENGE OF PAYMENTS MODERNIZATION: HOW ORGANIZATIONAL SIZE INFLUENCES INNOVATION
B2B Payments

Inside The May 2022 Report

  • 90%: Share of Fls with more than $100 billion in assets that plan to develop in-house solutions to reduce B2B payments frictions
  • 42%: Portion of credit unions that are currently innovating embedded finance solutions for payment processing or plan to do so
  • 23%: Share of community banks that say thinking new B2B payments solutions are useful is most helpful in driving modernization

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THE FAST TRACK TO PAYMENTS SYSTEMS UPGRADES
Digital Payments

Inside The May 2022 Report

  • 38%: Share of CFOs who cite improved payments integration as the most important reason for digitizing their payment platforms in the next year
  • 91%: Share of CFOs who reported efficiency gains after digitizing their payment systems
  • 38%: Portion of CFOs who accelerated the digitization of payment processes and systems to improve balance sheets

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THE DIGITAL PAYMENTS EDGE: HOW CONSUMER FINANCE COMPANIES CAN SUCCEED IN THE DIGITAL REVOLUTION
Consumer Finance

Inside The May 2022 Report

  • 86%: Share of billing and collection executives who believe digitizing processes will speed up bill collection
  • 97%: Share of billing and payments executives who say innovation with their digitized billing and payment processes will enhance customer satisfaction
  • 68%: Portion of billing and collection executives who say that lacking necessary technology inhibits continued innovation in their digitization efforts

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DISPUTE-PREVENTION SOLUTIONS: THIRD-PARTY TOOLS LIMIT DISPUTE-RELATED LOSSES
Fraud Prevention

Inside The May 2022 Report

  • 62%: Share of merchants surveyed that incorrectly flag fraud customer disputes concerning a product that was never delivered
  • 27%: Share of merchants surveyed that say they overcount disputed transactions suspected of being fraudulent
  • 50%: Portion of merchants surveyed that say they are accurately tracking disputed transactions suspected of being fraudulent

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