Tuesday, November 29, 2022

Debit, credit cards still king among payment methods

Debit and credit card transactions continue to lead the way in payments transactions over digital payments alternatives, according to recent research published by J.D. Power.

Across all age groups of U.S. consumers in the last three months, 32% turned to their debit card most frequently to pay and 28% used their credit card. Trailing behind cards were ATM withdrawals (12%), cash (11%), check (6%), a mobile wallet (2%). Other alternatives, such as P2P payment apps, prepaid or gift cards, “buy now pay later” or cryptocurrencies were each used by only 1% of consumers in that same three-month period, according to the survey.

Click here to read the full report on JDPower.com.