The Primax Payments Pulse study examines consumers’ behavior and the factors that influence their choice and usage of different payment methods. Using survey data from more than 1,750 financial institution customers across the U.S., the third annual Primax Payments Pulse study explores payment preferences and trends amidst a tumultuous economy.

Key findings from the 2023 study include:

• Mobile wallets continue to solidify their position as a prominent payment method.
• Payment preference and usage patterns peak in disparity between the oldest and youngest generations.
• Most consumers report concern about the economy and personal finances amid uncertain and shifting economic conditions.
• The growing debit-credit gap reaches the widest divergence in preference over three years.

Discover more key findings as well as actionable takeaways to help your financial institution achieve its strategic goals.