North American PaymentsInsights

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    This Report is available to members of Mercator Advisory Group’s North American PaymentsInsights Service. Please be advised that this Report is normally part of a research and advisory service that provides ongoing support throughout the year. As such, this Report contains significant depth of content that is selected for its strategic importance to our members.

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2021 North American PaymentsInsights: The State of the Consumer Market – Prepaid/Gift, Credit, and Debit Cards

Mercator Advisory Group’s latest 2021 North American PaymentsInsights report provides an overview of key trends in prepaid, debit, and credit card verticals.

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Mercator Advisory Group has released a new primary research report titled 2021 U.S. North American PaymentsInsights: The State of the Consumer Market - Prepaid/Gift, Credit, and Debit Cards, summarizing the findings from the Summer 2021 North American PaymentsInsights survey of 3,001 U.S-based adults. The report aims to highlight the key findings from the survey as they relate to consumer experience with prepaid, gift, credit, and debit cards. The report brings together various aspects of consumers’ experience with the different payment methods covered, as well as relevant behavioral habits and attitudes. Readers of the report will get an idea of how consumers use various payment cards, how they view card features, and the challenges that they encounter.

“The past 18 months have seen an unprecedented shift in consumer payment behaviors and attitudes, driven by disruptive factors including the COVID-19 pandemic, product shortages, and the accelerated adoption of online shopping. Tracking and understanding the shifts in consumer preferences is instrumental to planning for the future and creating innovative payments solutions that satisfy consumers’ everchanging needs.” - Amy Dunckelmann, Vice President, Research Operations, Mercator Advisory Group.

This report contains 54 slides and 42 exhibits.

Highlights of this research document include:

  • The average dollar amount loaded onto retailer-specific prepaid cards was $126.

  • Over half of respondents that used a retailer-specific gift card had spent the entire value on the card in just one shopping trip.

  • Over 60% of credit card users reported using their credit primarily to get rewards, while slightly over half said that they use a credit card only to build credit history and that they try to pay off the full balance every month.

  • Cashback was perceived to be the most important reward by greatest share of those that participate in credit card rewards programs (41%).

  • Only 32% of debit card users have used their debit card to get cash back from a merchant in the past 12 months.