Number of Figures: 11
This IDC Financial Insights report discusses the results of a nationally representative Web survey of U.S. consumers focused on usage of emerging payment technologies. The most recent survey, conducted in March 2011, showed strong growth in online bill payment, prepaid cards, and mobile payments for digital content. The influence of reward points on consumer choice of payment instrument also increased dramatically.
According to Aaron McPherson, practice director, Financial Services at IDC Financial Insights and the principal author of this report, "Despite the cost pressures facing the financial industry, banks and credit unions must continue to invest in their payment products to take advantage of the many promising growth trends we have seen in this year's survey. Otherwise, they risk leaving money on the table for nonbanks to pick up."