Payer preference
[Report] Consumer payment preferences in 2021
We surveyed 15,424 consumers across the globe to determine which payment methods consumers prefer to use. Learn how to leverage payer preferences for your business and boost conversion and retention.
Key takeaways:
Direct Debit is the preferred way to pay in the UK, Spain and Denmark.
Corporate cards continue to dominate North America.
B2B SaaS companies should offer bank debit as their next payment method.
What you’ll learn
How consumers preferred payment methods differ by country
Why consumers favour their preferred payment methods
Where bank debit is preferred, and where card payments are divisive
How well digital wallets like PayPal stack up
How consumer payment behaviour could change in a post-COVID world
The report features commentary from Zuora and Recurly.
Benefits of payer choice
Boost Conversions
Businesses that offer more payment methods get results. Businesses offering 5+ payment methods grew 4% faster than those offering 1-3 payment methods.
Retain customers
By addressing consumer payment preferences, you can minimize payment failures and retain your customers for longer.
Improve brand credibility
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.
Leverage payer preferences to your advantage.
Speak with a payment expert to learn how you can optimise your payments strategy.