Nearly One In Five US Online Adults Ages 25 Or Younger Prefer Digital Payment Methods

Forrester data fielded from April to June 2021 indicates that 19% of US online adults ages 25 or younger prefer digital over traditional payment methods, a higher proportion than those 35 and older. However, 8% prefer to use bank transfer payment methods like Venmo or Zelle. (Venmo has started appearing on retailer and brand checkout pages, while Zelle is still primarily used to pay entrepreneurs or small business owners in a peer-to-peer model.) While traditional payment methods are preferred across all demographics, companies should delve into the opportunity for digital payments to improve conversion rates and the customer checkout experience.