TSYS Releases its Fourth Annual Consumer Payment Preferences Study

TSYS announced the results of its 2014 nationwide consumer primary research study.

This fourth annual Consumer Payment Choice Study includes the latest data on key consumer payment preferences and new insights on a range of popular industry topics. The results provide insightful information for use in developing and confirming payment strategies and initiatives.

“TSYS provides relevant data and information to help our clients — and the wider payments industry — understand the consumer behind every payment,” said Sarah Hartman, senior director, TSYS. “This popular annual research provides a unique foundation on consumer behavior and responses to current and future trends in the industry.”

More than 1,000 consumers who have and use both a debit card and a credit card were surveyed on payment choice, what they value most, what might influence them to change how they pay, and their opinions on select new payment offerings. Key findings include:

  • Many consumers use various cards to manage their finances and can be influenced by value added features such as rewards.
  • Consumers are concerned about the security of their payment cards and are increasingly aware of security related features including mobile fraud and risk tools.
  • Rewards or offers continue to be the biggest controllable factor to influence the card of choice.