ID Number: G00168922



Consumers Trust Banks as Payment Providers: Now Is the Time to Think Beyond Product Silos
13 July 2009
 
Christophe Uzureau  

Consumers are changing their payment mixes to better control their spending activities during these uncertain economic times. To retain or grow consumers' deposits, banks must manage their portfolios of payment solutions differently.





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Table of Contents


    
 Analysis

1.0
    
 Viewpoint
2.0
    
 The Focus of This Research
3.0
    
 Analysis

3.1
    
 Expect More Competition
3.2
    
 Retail Payment Instruments Usage — Old Habits Don't Die
3.3
    
 Shift in Usage, the Debit Card a Clear Winner
3.4
    
 The Case Against Convergence — Different Types of Purchases Call for Different Payment Instruments

3.4.1
    
 Cash, the Great Survivor
3.4.2
    
 Starting the Case for Nonbank Collaborative Payment Schemes
3.4.3
    
 A Multipayment Instrument World
3.5
    
 The Special Case of P2P
3.6
    
 Focus on Consumer Trust, and Open Up the Bank Model

3.6.1
    
 Debit and Credit Card Issuers Are Trusted
3.6.2
    
 Not All Brands Can Become Payment Brands
3.6.3
    
 Building the Case for Nonbank Payment Collaborative Schemes
3.7
    
 Relationship Rewards and Portfolio Management
4.0
    
 Recommendations

    
 Recommended Reading


List of Tables


Table 1.  
 Payment Instrument Use per Product Type (U.K.)
 

Table 2.  
 Payment Instrument Use per Product Type Continued (U.K.)
 

Table 3.  
 Payment Instruments Use per Product Type (U.S.)
 

Table 4.  
 Payment Instruments Use per Product Type Continued (U.S.)
 

List of Figures


Figure 1. 
 Cards Carried and Used
 

Figure 2. 
 During the past month, approximately how many times have you paid for goods and services using the following methods? (U.K.)
 

Figure 3. 
 During the past month, approximately how many times have you paid for goods and services using the following methods? (U.S.)
 

Figure 4. 
 How has the frequency with which you've paid for goods and services with the following payment methods changed during the past 12 months, if at all? (U.K.)
 

Figure 5. 
 How do you expect the frequency with which you will pay for goods and services with each the following payment methods to change during the next 12 months, if at all? (U.K.)
 

Figure 6. 
 How has the frequency with which you've paid for goods and services with the following payment methods changed during the past 12 months, if at all? (U.S.)
 

Figure 7. 
 How do you expect the frequency with which you will pay for goods and services with each the following payment methods to change during the next 12 months, if at all? (U.S.)
 

Figure 8. 
 During the past three months, how many times have you personally used the following methods to pay or transfer money to another person? (U.K.)
 

Figure 9. 
 During the past three months, how many times have you personally used the following methods to pay or transfer money to another person? (U.S.)
 

Figure 10. 
 To what extent do you trust each of the following providers to support your payment needs? (U.K.)
 

Figure 11. 
 To what extent do you trust each of the following providers to support your payment needs? (U.S.)
 

Figure 12. 
 Consumer Interest in Relationship Rewards (U.K.)
 

Figure 13. 
 Consumer Interest in Relationship Rewards (U.S.)
 



Browse Topics:
 
Payments
Electronic Payments
Mobile Payments
Banking Systems
Banking Business Strategies




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