Paysafe report shows shifts in consumers' payment preferences

The data is part of an international research of 8,000 consumers collected by Paysafe and Sapia Research, in the US, UK, Bulgaria, Italy, Austria and Germany from 8- 15 April.

According to the report, 54% of US shoppers are using online sellers because they can’t reach the stores and 46% are making COVID-19 related purchases at these online retailers. This trend is much more pronounced in US than in Europe, including Germany and Austria, where only 31% and 32% respectively are shopping online due to lack of physical access. Moreover, the data shows that 25% of US shoppers are going online for the first time, compared with 21% in the UK and 18% globally. 

The lockdown resulted in many consumers changing payment methods, with 65% of US purchasers saying they have tried a new payment approach for the first time. Regarding the preferred payment method, credit cards prevail in the US, with 56% making an online purchase with a credit card in the past month. Additionally, 50% of US users have purchased online with a debit card and 36% have purchased online with an e-wallet. 

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