TSYS Research Reveals Canadian Consumers Prefer Credit Cards as Payment Choice
June 25 2015 - 8:00AM
Business Wire
Credit card use rises among consumers as trends
in e-commerce increase
TSYS (NYSE: TSS) today announced the results of its 2015
Canadian Consumer Payment Choice Study. The second annual research
found that when given a choice, 46 percent of Canadian consumers
prefer to pay using their credit cards more than any other payment
method. That’s up from 34 percent in 2014. The recent online survey
of more than 1,200 respondents, age 18 years and older, found that
consumer preferences for using credit cards to shop online,
combined with an overall increase in e-commerce, will likely cause
a continued rise in credit use.
“Consumers have more payment options than ever before due to the
continuing proliferation of new technology and non-traditional
companies entering the payments industry,” said John Dale Hester,
group executive of Relationship Management at TSYS. “Our goal from
this survey is to provide relevant information to help our clients
with their payment strategies, and to create a useful reference
tool for other participants in the Canadian payments industry.”
In addition to providing insight into basic payment preferences
and influencers of cardholder behaviors, the study also revealed
how consumers prefer to communicate with their bank, as well as a
growing adoption of the mobile channel as a part of the payment
process. Other key findings include:
- Consumers are interested in using their
mobile phones to manage and protect their accounts. Nearly 30
percent of survey respondents indicated they were highly interested
in the ability to use a mobile phone to stop an unauthorized
transaction. Additionally, 25 percent of respondents found the
ability to instantly view card transactions highly
interesting.
- Mobile apps offered by financial
institutions have been highly adopted and are frequently used.
Twenty-four percent of participants reported using a mobile app
provided by their financial institution at least a few times per
month.
- Cardholders are open to receive
communications from their financial institution. Nearly 50 percent
of survey respondents indicated they were willing to receive
coupons or special offers based on the information their bank
collected about their purchase behavior.
To learn more about Canadian consumer preferences and to get
complete survey results visit:
www.tsys.com/2015canadianconsumerpaymentchoicestudy.
About TSYS
At TSYS® (NYSE: TSS), we believe payments should revolve around
people, not the other way around. We call this belief
People-Centered Payments®. By putting people at the center of every
decision we make, TSYS supports financial institutions, businesses
and governments in more than 80 countries. Through NetSpend®, A
TSYS Company, we empower consumers with the convenience, security,
and freedom to be self-banked. TSYS offers issuer services and
merchant payment acceptance for credit, debit, prepaid, healthcare
and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with
local offices spread across the Americas, EMEA and Asia-Pacific.
TSYS is a member of The Civic 50 and was named one of the 2015
World’s Most Ethical Companies by Ethisphere magazine. TSYS
routinely posts all important information on its website. For more,
please visit us at www.tsys.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150625005170/en/
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS Investor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.com
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