NEW YORK—New research has found half of U.S. consumers tried using a new payment method in the past year, and 16% switched to a new one.
The study from Pymnts.com and Nuvei shows only 13% of consumers said credit cards were the new payment method they tried.
Digital wallets are seeing relatively widespread uptake, having been used in 30% of “new” cases, which means that three out of five U.S. consumers who tried a new payment method in the last year did so with digital wallets, Pymnts.com said.
“Digital wallets, we found, offer convenience as consumers track their payments. Moreover, four out of 10 consumers who tried this method reduced the use of other payment methods after beginning their use of digital wallets,” according to the report.
Trailing, but still capturing some share, are buy now pay later options, cited as a new payment method by 5% of consumers, the report added.
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