Number of Figures: 12
This IDC Financial Insights report looks at findings of the 2014 Consumer Payments Survey, which polled U.S. consumers in regard to emerging payment methods and technologies. After several years of growth in the use of emerging payment methods like prepaid cards and mobile payments, the most recent survey saw a small decline in online bill payment as well as both network-branded and store-branded gift cards. Mobile payments saw an increase, but it was small compared with recent trends.
According to James Wester, practice director for Worldwide Payment Strategies and the author of the report, "After several years of growth, the market for 'alternative' payment methods is now entering a period where adoption gains may come more slowly and where simply providing an alternative isn't enough. Instead, providers of alternative payments need to offer products that add value beyond the payment."