15 January 2025: PXP, the expert in global payment services, today shares the findings from exclusive new research conducted in collaboration with polling firm Censuswide, revealing the payment preferences, priorities and frustrations of more than 4,000 consumers across the UK and US.
The research uncovers compelling trends in how people choose to pay and what drives their decisions:
Debit card is the preferred method of payment for all in-person transactions, with the exception of cruises, where credit cards prevail.
Debit card is also the most popular choice for online purchases, except when making high-ticket value items, when almost 34% of respondents opt for credit cards.
Digital transformation is accelerating, with digital wallets gaining significant traction—especially among younger consumers. Nearly 19% of 18-24-year-olds now use services like ApplePay and GooglePay for grocery shopping, compared to 3% of those over 55.
Security remains paramount in payment choices, with more than half (52%) citing security as the most important thing when choosing a payment method, rising to 62% of over 55s.
Almost half (45%) view credit/debit cards as the most secure way to make online purchases, with less than 5% viewing BNPL as most secure.
The findings and more are explored in full in a new white paper: From Cash and Cards to APMs: Navigating the Payments Transition, which is available from today. The report offers essential guidance for businesses looking to optimise their payment strategies across retail, travel, and hospitality sectors.
Commenting on the research, Kamran Hedjri, Group CEO for PXP, said: “Our research goes beyond the numbers to reveal how consumers want to pay, what influences their choices, and offers actionable data for merchants looking to optimise their payment strategies. The whitepaper is designed to help businesses understand not just the ‘how’ but the ‘why’ behind consumer payment choices, while offering the payments industry a clear roadmap for establishing alternative payment methods (APMs) as trusted, long-term options alongside cash and cards.”
The release of this research comes shortly after PXP unveils its new brand identity and launched its new platform PXP Unity, marking its evolution into a tech first global commerce ecosystem. This next-generation platform simplifies commerce through real-time data insights, empowering merchants to architect their payment ecosystem with granular control. By combining innovative solutions with engineering excellence, PXP Unity breaks down borders and unifies commerce worldwide, representing PXP's commitment to serving merchants of all sizes.
Kamran added: “We're at an incredible moment in payments history. Consumer expectations are evolving as rapidly as the technology enabling them, creating both challenges and opportunities for businesses. The ways people choose to pay, and the reasons behind their choices, have shifted dramatically over the past few years—prompting businesses to rethink their approach to payment strategies. Understanding the evolution of payments is no longer just an operational concern—it’s a strategic imperative. This research equips merchants with essential insights to navigate the evolving digital payments landscape and strengthen their competitive position.”
PXP's platform leads the way in payment innovation, combining intelligent payment routing, rich data analytics, and comprehensive reporting capabilities. Through a single integration, businesses can accept payments across all channels—online, mobile, and in-store. PXP processes over EUR 30 billion annually through its unified gateway.
To read the full white paper, visit: http://pxp.io/.
About PXP
PXP is a tech platform that makes commerce simpler, better, and more connected. With just one connection to PXP, merchants can unlock a world of commerce across online, mobile, and point-of-sale channels. Powered by a suite of financial services, multiple acquiring connections—including an in-house acquiring license—and diverse alternative payment methods, PXP processes over €30 billion annually through our unified gateway. Connect once to our global commerce ecosystem to supercharge your growth by unifying payments, streamlining operations, and getting access endless opportunities. Learn more about the PXP family of companies at: http://pxp.io/.