The way in which consumers make purchases and interact with their credit union continues to evolve. Thanks to the COVID-19 pandemic and its effects on the economy, many consumers’ wallets and budgets have tightened. Additionally, consumers have become more open to using emerging payment methods, such as installment payments solutions or cryptocurrency.
Welcome to Part III of our blog series on 2021 Eye on Payments. PSCU’s fourth annual consumer payments study examines payment preferences among credit union members and other financial institution customers (“non-members”) across the U.S., including how they evolved over the past year. Through this research, PSCU explores the factors that influence consumers when it comes to their usage of traditional and emerging payment methods across multiple payment scenarios and how social and economic events impact payment choice.
In this third blog from our 2021 study, we explore the emerging payments landscape.
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