American consumers are paying for goods at checkout using a number of different payment methods, with 93 percent saying they used cash, 68 percent using debit cards or checks, and 67 percent using credit cards. None of that is too surprising, but what might shock people is that 62 percent used PayPal, according to a recent Blackhawk Network Shopper study.
In addition, 14 percent of US consumers made purchases using a mobile payment service supported by their smartphones and tablets. It's an important glimpse into payments, as mobile payments are expected to become more prevalent in the years to come.
"Consumers still have a strong preference for traditional payment methods like debit cards and prepaid cards," said Teri Llach, CMO of Blackhawk Network. "Those payments tools are not going away anytime soon, even as interest in and usage of new payment methods grows. Our findings prove that payments is not either/or when it comes to legacy payments versus emerging products; it's really about convenience and providing a mix of options."
If 25 percent of smartphone owners are currently using some type of mobile wallet technology, there is huge potential for mobile payments - and retailers are paying attention.