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Paysafe Finds More Than 1 in 3 Americans Have Permanently Changed their Payment Habits Following the Pandemic

Paysafe Finds More Than 1 in 3 Americans Have Permanently Changed their Payment Habits Following the Pandemic
Paysafe research reveals two thirds of U.S. consumers now use contactless payments in-store

Over a third (39%) of American consumers have permanently changed how they pay since early 2020, when the COVID-19 pandemic began, reveals research by leading specialized payments platform Paysafe (NYSE: PSFE). The study, which is released today, also shows that contactless payments have gone mainstream.

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The consumer research, which was carried out by Sapio Research on behalf of Paysafe, surveyed 2,000 U.S. consumers in April 2022.

Paysafe’s new data on the state of in-store payments signals to merchants and small and medium-sized businesses (SMBs) the importance of offering broader payment choices for their customers. The research’s key highlights include:

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  • The adoption of contactless payments has accelerated
    The report shows that two-thirds of consumers (67%) indicate that they now regularly make contactless payments with their credit or debit card, and over a third (37%) make NFC-enabled payments with their smartphone or even a wearable device. One in ten consumers (9%) say that all their transactions are now contactless.
  • The way consumers pay depends on what’s being purchased
    The survey results also reveal that consumers make more use of cash for small-ticket purchases, such as pastries (46%) or takeout food (30%). Customers, however, prefer debit and credit cards or mobile wallets for larger ticker items such as a restaurant dinner, a tank of gas, or when clothes shopping.

Afshin Yazdian, CEO of Paysafe, U.S. Acquiring, said: “After the comeback of in-person activities and retail in the U.S., brick-and-mortar merchants – especially SMBs — have the chance to win new customers and strengthen their relationships with their existing clientele by exceeding their expectations. Offering a quick and easy checkout, no matter how customers choose to pay, is imperativ

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