Your customers met their payment method of choice ... and lived happily ever after
A customers’ preferred payment method impacts their buying decision.
Offering a preferred payment method can improve conversions, customer loyalty and retention.
What payment methods do your customers prefer?
Consumer Payment Preferences in 2021
Discover the key takeaways from our consumer payment preferences report including:
Which payment methods are most popular across the globe
Credit cards are divisive across the payments landscape
Love for PayPal wavers
How to get the right payment mix
Global payment preferences for recurring B2B purchases
Get the key learnings from our B2B payment preferences report, including:
The preferred payment methods for B2B businesses across different use cases
Digital wallets shouldn’t be the default 2nd option
How businesses that offer multiple payment methods grow their revenue faster
Benefits of meeting customer payment choices
Payment preferences change from country to country. While cards are popular in the US, bank debit is the preferred method in the UK and Australia. By offering only one single payment method excludes a portion of potential customers.
Businesses that offer more payment methods get results. Businesses offering 5+ payment methods grew 4% faster than those offering 1-3 payment methods.
30% of churn is involuntary. When payments fail, customers often lose access to your product or service. By addressing consumer payment preferences, you can maximise payment success and retain your customers for longer.
Improve brand credibility
The payment methods available and the methods people prefer to use differ by country and region. Providing a payment method that is specifically available and preferred in a country, promotes trust in your brand and in your legitimacy as a business with potential customers. See how payment preferences vary in different countries.