SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Tallwave, a business design and innovation company that helps brands transform, design, build and grow new products and services, today announces the results of its latest Pulse Survey focused on Digital Payment Trends. As technology in commerce continues to advance, payment methods are evolving out of necessity to reduce friction and blend into the total online experience. The survey’s goal was to take a deeper dive into the users behind the $10 trillion digital payments industry. To learn more about who is using this technology and why, Tallwave surveyed participants segmented by age, gender and income.
Key findings from the survey include:
- Digital payments aren’t just for millennials: Even among people 55+, 50 percent had used a digital payment app in the last six months.
- In popularity contest, Venmo is second to Paypal: Two thirds of respondents had used the Paypal Mobile app, while 37 percent used Venmo. Other favorites included Apple Pay, Google Pay and Zelle. Venmo is dominant among younger people; 25 percent of people under 24 in the survey use it, mainly to pay friends.
- Users trust digital payment apps, enjoy convenience and ease of use: Nearly three quarters (72 percent) of respondents indicated they felt digital payments were secure and they would use payment apps more frequently if possible. Common reasons for using the apps included needing to pay someone back quickly, offering an easy way to be reimbursed, and easily splitting a bill among a group.
“This survey confirms that usage of digital payment apps is widespread across generations,” said Kirsten Markson, Director of Insights and Planning at Tallwave. “While there were a few surprises, it’s important for merchants to offer these payment options and deliver a consistent, convenient user experience for people who want to pay by phone.”
Complete survey results are available at: http://join.tallwave.com/digital-payment-pulse-survey. For more information about Tallwave, please visit www.tallwave.com.
About Tallwave
Tallwave is a business design and innovation company dedicated to helping our clients achieve great customer experiences and success through targeted strategy, brand, design, and digital marketing services. Tallwave is headquartered in Scottsdale, Ariz. Learn more at tallwave.com.
