Cash, credit and debit cards are still consumers’ top choices for payments, but alternative methods — ranging from gift cards to mobile wallets and peer-to-peer payments — are gaining momentum. Among smartphone owners, 6% use peer-to-peer payment methods such as Venmo, and an impressive 33% use mobile wallets, according to a March 2016 survey.
Gift cards also are playing a more significant role in the payments economy: 43% of consumers use them for payments. The word “gift” may be somewhat misleading: 44% of consumers purchased these cards for self-use, according to this infographic from Blackhawk Network.
Source: Blackhawk Network
