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Bank customers want their banks to know them better Mercator Advisory Group survey finds 70% of mobile users want more personalized service at a branch, especially young adults and high earners -
Fastest growth in mobile banking is for transactions, especially by smartphone Mercator Advisory Group survey of U.S. consumers finds young adults prefer to perform banking transactions by smartphone
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U.S. consumers’ preference for teller use is declining as self-service banking use rises Mercator Advisory Group survey finds consumers increasingly prefer mobile check deposits rather than using tellers
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U.S. consumers’ use of financial advisors is rising, especially among young adults and households earning $75,000 or more Mercator Advisory Group survey finds young adults are now more likely than seniors to use financial advisors
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Survey finds rising use of prepaid cards, especially retailer-specific Mercator Advisory Group survey finds more young adults and women buying retailer-specific gift cards
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Over half of U.S. adults are using mobile payments at merchants online or in stores Mercator Advisory Group survey finds 8 in 10 users of mobile apps such as Apple Pay find them more convenient than payment cards
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Credit card use in U.S. expands, especially among young adults. Mercator Advisory Group survey finds that nearly 2 in 3 young adults aged 25—34 now use credit cards, up from just half who did in 2013.
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Survey finds more U.S. consumers using online payment services for more than just online purchases Mercator Advisory Group survey finds 65% of consumers and 78% of young adults in the United States use online payment services
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Rewards and better interest rates are U.S. consumers’ top reasons for switching banks. Mercator Advisory Group survey finds that 28% of U.S. consumers who switched banks in the last two years did so for better bank rewards.
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Consumers need more support for mobile banking.
New Mercator Advisory Group survey of U.S. consumers finds young adults and high earners would feel comfortable using a voice-activated conversational interface for banking. -
Strong interest in using mobile device to withdraw cash from ATMs Mercator Advisory Group survey finds 30% of U.S. consumers interested in using their mobile device to prestage a ATM transaction rather than use a card at the ATM
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More than half of U.S. consumers would like their financial institution to help them budget to better manage their finances. Mercator Advisory Group survey finds 4 in 5 young adults and business owners are interested in budgeting support from their financial institution.
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Survey finds decline in purchase of prepaid cards in U.S. after five years of steady growth. Mercator Advisory Group survey finds U.S. consumers are cutting back on buying prepaid cards.
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Half of U.S. adults order ahead for pick up in stores. Mercator Advisory Group survey finds that young adults are more likely to order ahead by mobile than by computer or laptop.
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Credit card rewards drives card selection Mercator Advisory Group survey finds that cash back is by far the most valuable reward
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Survey finds nearly 3 in 5 U.S. consumers and 4 in 5 young adults use person-to-person payment services Mercator Advisory Group survey finds nearly half of person-to-person (P2P) payments users in U.S. use the service at least once a month
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Participants in FI relationship rewards programs are motivated to stay or expand engagement. Mercator Advisory Group survey finds that 38% of U.S. consumers say their financial institution offers a relationship rewards program.
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Mobile banking is rising rapidly, but the user experience still needs improvement. New Mercator Advisory Group survey of U.S. consumers finds mobile banking apps need a better customer experience.
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Access to no-fee ATMs is increasingly important to U.S. consumers. Mercator Advisory Group survey finds 77% of U.S. consumers say they do anything they can to avoid paying ATM fees.
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U.S. consumers are more likely to save up for specific goals. Mercator Advisory Group survey finds 65% of U.S. consumers have funds to meet specific goals, nearly half are at their primary financial institution.
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Survey finds that purchase of virtual prepaid cards delivered digitally remains strong. Mercator Advisory Group survey finds that 48% of U.S. consumers bought virtual prepaid cards, but more consumers still buy physical prepaid cards.
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Mobile payment adoption in U.S. stalls with half of consumers using mobile payments. Mercator Advisory Group survey finds more U.S. consumers use mobile apps, especially retailer apps, than use online web to pay by mobile.
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U.S. consumers report that credit cards are now their most preferred payment type in stores. Mercator Advisory Group survey finds that U.S. consumers prefer to use credit cards online and in stores.
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Security and lack of rewards are top reasons that U.S. consumers do not use debit cards online. Mercator Advisory Group survey finds fewer consumers using debit cards for purchases, especially online.
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Satisfaction and inertia make banking relationship sticky Mercator Advisory Group survey finds 58% of U.S. consumers have used primary FI for many years and the various aspects of service receive an average satisfaction score of 84%.
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Mobile banking continues to grow in importance in the U.S. New Mercator Advisory Group survey finds one-half of U.S. consumers are using their financial institution’s mobile banking app and are satisfied with it.
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ATMs continue to be an integral part of the customer experience in U.S. banking. New Mercator Advisory Group survey finds that U.S. consumers have a strong preference for their primary financial institution’s ATMs over other ATMs available to them.
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Younger U.S consumers are open to financial help from their primary financial institution. New Mercator Advisory Group survey finds over 80% of U.S. consumers age 18-34 would be open to budgeting, saving, and credit monitoring help from their primary financial institution.
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Prepaid card growth continues its strong growth in the U.S. Mercator Advisory Group survey finds that half of U.S. consumers are buying retailers’ gift cards and prepaid transit cards, mobile phone cards, and reloadable general purpose cards each have grown over 100% since 2013. -
Consumer Use of Mobile Payments Rebounds. Mercator Advisory Group survey finds that U.S. consumers’ use of mobile payments has rebounded to levels seen in 2016.
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Credit Card Use in the U.S. Remains Strong. New report from Mercator Advisory Group 2019 NorthAmerican PaymentsInsights survey finds U.S. consumers’ use of credit cards continues to be strong.
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Canadian Consumers Prefer to Pay with Credit Cards. Mercator Advisory Group’s newly launched survey in Canada reveals that Canadian consumers are most likely to choose a credit card when it’s time to pay.
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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.
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