Gen Z Consumer Payment Habits

Mobile and BNPL Gain Traction—But Cards Still Hold Power

Report Snapshot

Gen Zers will drive the growth of emerging payment methods, opening the door for providers to reach them through digital and mobile. But card-based payment methods are still relevant. To tap their rising spending power, providers must align their offerings with how Gen Z prefers to pay.

Key Question: How is Gen Z affecting the growth of emerging and traditional payment methods?

KEY STAT: By 2026, Gen Z will catch up to millennials in using emerging payment methods like buy now, pay later (BNPL) and mobile wallets. Payment providers of all stripes will need to meet their high digital expectations.

Here’s what’s in the full report


Exportable files for easy reading, analysis and sharing.


Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Report Snapshot
  2. Gen Zers will need to balance spending and saving priorities as they grow into their financial prime.
  3. Gen Zers’ card usage transcends their mobile preferences.
  4. Among card-based payment methods, Gen Z prefers debit cards.
  1. Gen Zers’ credit card use will change as they enter a new life stage—but emerging credit options pose a threat.
  2. Gen Z’s attraction to prepaid cards is being trumped by competing offerings from digital-first banks.
  3. Gen Z’s early embrace of mobile wallets will drive the technology into the mainstream.
  4. Gen Zers are driving the BNPL surge but will need a push to boost in-store usage.
  1. Gen Z’s crypto payments leadership will be buoyed by digital wallet innovation.
  2. What should marketers in the payments industry do next?
  3. Sources
  4. Media Gallery

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.


Christina Obolenskaya, and David Morris


Caitlin Cahalan
Researcher, Financial Services
Eleni Digalaki
Principal Analyst
Jaime Toplin
Senior Analyst

"Behind the Numbers" Podcast