2024 North American PaymentInsights: U.S.:Digital Transactions and Emerging Technologies – Digital Wallet Use

This survey is focused on understanding what factors influence consumer adoption of various payments options, as well as what concerns they have about these emerging channels. Additionally, we establish baseline adoption methods for payments in areas such as crypto, metaverse, and other (at present) novel methods. As mobile payments technologies enter their third decade of existence, the generational thesis of adoption is losing its explanatory power. While some curves still show downward adoption curves as consumers age, this is no longer uniformly the case, suggesting that we should not blithely assume that younger generations will adopt the same habits as their Millennial elders. After years of adoption characterized by age (younger = higher), we have started to assume that the traits of the younger adopters are shared with the older adopters, such that “adopters” are a group. Granular analysis shows us that this is not so.

This report is based on Javelin Strategy’s North American PaymentsInsights series’ annual survey. A web-based survey was fielded between April 19th and May 1st, 2024, using a U.S. online consumer research panel of adults aged 18 and older. The survey of 3,001 U.S. adults focused on consumer attitudes and behaviors around latest payment technologies offered to consumers, identifies essential shifts in consumer payment preferences, and reveals consumer use and interest in emerging new payment products and services. 

The panel of 3,001 respondents supports a sampling error of +/– 1.8% at the 95% confidence level for questions asked of all respondents, as well as at many sub- segment levels designed to approximate a random sample. 

The online questionnaire used for this study was developed by Javelin Strategy in consultation with our clients, which represent a range of payments industry stakeholders.

Highlights of the research report include:

• Digital Wallet Users 
• Primary Banking & Payment Habits 
• Digital Wallets 
• Bill Payments 
• Voice Enabled Devices 
• Metaverse Experience 
• Biometrics