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Debit Cards and P2P Payments Both Integral to U.S. Consumers' Payments Repertoire

New report from Mercator Advisory Group 2019 North American PaymentsInsights survey series finds U.S. consumers' continued use of debit cards and P2P payments.

BOSTON, March 9, 2020 /PRNewswire-PRWeb/ -- Mercator Advisory Group's most recent report, Debit Cards and P2P Payments: Solid Partners, a 2019 U.S. PaymentsInsights study, reveals that the debit cards and person-to-person (P2P) payments are both core components of the U.S. payment ecosphere today.

This report from Mercator Advisory Group's Primary Data service is based on a sample of 3,002 U.S. adults surveyed in the annual online Payments survey of Mercator's North American PaymentsInsights series, conducted in June 2019.

The study highlights consumers' use of debit cards relative to other payment types, participation in debit card reward programs, and new account opening. Additionally, the survey covers usage of P2P payment services, key P2P brands, reasons for using and not using P2P payments, and P2P fraud.

"Both debit cards and P2P payments are key components in the payments repertoire of U.S. consumers. Each has strengths in serving different constituencies. Debit card has a core group of users who prefer debit over credit cards and use it for all the transactions for which others would use credit. Person-to-person (P2P) payment services are continuing to grow as people and businesses find more use for it," stated the author of the report, Peter Reville, director of Primary Data Services at Mercator Advisory Group, which includes the North American PaymentsInsights series.

Highlights of this report include:

  • Current payment card usage in the U.S.
  • The use of payment cards online and off line
  • The incidence of debit card fraud
  • Debit card rewards
  • P2P payment usage
  • The types of P2P payments used
  • P2P payment fraud

Companies mentioned in the survey results shown include: Apple, Facebook, Google, MoneyGram, PayPal, PeoplePay, PopMoney, Square, Venmo, Western Union, and Zelle.

Members of Mercator Advisory Group's North American PaymentsInsights Survey Series Service (formerly CustomerMonitor Survey Series Service) have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.

Please visit us online at http://www.mercatoradvisorygroup.com.

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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.

 

SOURCE Mercator Advisory Group