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If consumers welcome new payment options, why are they slow to adopt them?

November 18, 2020

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Consumers largely welcome a more diverse range of payment choices, but do not always take advantage of them when managing their money. These are some of the latest findings of the 2020 ING International Survey on new technologies which provides insight into how 13,000 consumers across 13 European countries spend and use their money.

A quarter (25%) of Europeans completely agree that “the more payment options [they] have the better” which suggests many embrace innovations in this space. This is twice the proportion of those who consider the statement to be false (13%). Yet despite having a plethora of options available to them, in reality, on average, Europeans tend to use just a handful of ways to pay online and instore.

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