The State of Payment Methods 2024

Post-Pandemic Trends Are Becoming Clear

After years of pandemic-era distortions, clear trends in consumer payment habits are arising. We look at eight of the most common payment methods US consumers use and the headwinds and tailwinds affecting each.

Key Question: What do payments providers and retailers need to know about shifting payment method trends?

Key Stat: Total credit card spend will exceed $3.8 trillion by 2025—cementing its position as the most popular US retail payment method.

Here’s what’s in the full report

2files

Exportable files for easy reading, analysis and sharing.

2charts

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

Table of Contents

  1. Executive Summary
  2. Consumer payment habits are settling after a period of uncertainty
  3. Credit cards top the charts but could have a challenging year
  4. Debit cards build financial relationships for incumbents and challengers alike
  1. Prepaid cards and gift cards take divergent paths
  2. BNPL is making strides but struggling to grab a meaningful share of US retail sales
  3. EFTs have an uphill battle to break into retail payments
  4. Crypto payments aren’t mainstreaming anytime soon
  1. Cash is stickier than checks
  2. Sources
  3. 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.

First Published on Mar 25, 2024

authors

Tyler Van Dyke

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
David Morris
Principal Analyst
Amy Rotondo
Director, US Research