Paysafe report shows shifts in consumers' payment preferences

Tuesday 5 May 2020 13:14 CET | News

UK-based payments solutions provider Paysafe has launched a new report revealing that more than half of US consumers are shifting to online purchases due to COVID-19.

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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Keywords: Paysafe, report, payments , online purchases, Sapia Research, cards, e-wallet, US, UK, Austria, Germany, COVID-19
Categories: Payments & Commerce
Countries: World
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