The IDEMIA Secure Transactions (IST) global study, conducted by Dentsu Insights, has uncovered that security remains a concern and consumers look for safe ways to pay.
In addition, design, convenience and sustainability are the primary catalysts driving consumer payment trends. As innovations, whether digital or physical, revolutionise every area of our daily lives, the payment sector is no exception.
In this exclusive survey, carried out between December 2023 and January 2024, users around the world were interviewed on how they pay and what their expectations are when it comes to payment methods.
User expectations centred around three priorities: design, convenience, sustainability
Drawing from the feedback of more than three thousand respondents from 12 countries across 6 continents, 3 distinct consumer needs stand out regarding users’ payment preferences:
Design matters: with the increasing number of options, from metal to OLED cards among others, card design has become a key differentiator. Expectations and appetite for innovative card designs are ever-growing:
- 72% care about the design of their payment cards
- 83% are interested in having a metal card
- 84% are interested in having a numberless physical card as an added security feature
Increased flexibility thanks to the combination of physical and digital cards made possible by mobile phones:
- 71% of respondents already utilize a digital payment card
- 68% of those without one express a desire to obtain a digital card in the next three years
- 86% value the option to activate their physical card by tapping it to their phone
The shift towards more sustainability in payment:
- 69% of consumers would choose an eco-friendly card over a conventional one
- 71% of respondents are willing to participate in recycling programs for expired cards
Understand usage to develop payment solutions that best meet consumers’ needs
Attuned to the preferences of its consumers, IDEMIA states that it remains steadfast in its commitment to offer innovative services tailored to individual needs, while embracing the rapid advancements of the digital realm.
Through regular surveys, IDEMIA aims to gain an in-depth understanding of consumers’ payment preferences and habits, positioning itself as the payment market’s technological expert armed with unparalleled knowledge of consumer behaviour.
“As a trendsetter, we strive to be at the forefront of the evolutions in our industry and this survey testifies this ambition,” said Julia Schoonenberg, Executive Vice President Payment Services at IDEMIA Secure Transactions. “Consumers have high expectations for their payment solutions and the way they use and manage their payment means.
“It is IST’s role to meet and exceed them, by offering ever more innovative solutions.”
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