Understanding the four user groups for digital payments

Stephen Whiteside

Research by McKinsey, the management consultancy, covering digital payments has found that consumer habits are evolving over time.

The use of digital payments is no longer restricted to young, tech-smart consumers – and, instead, now reflects the attitudes and functional needs of shoppers in various generations.

Such insights emerge from a new study by McKinsey, the management consultancy, which found that 77% of US consumers now utilize digital-payment technologies including:

  • in-app transactions, using brands like PayPal and VisaCheckout;
  • in-store mobile payments, as facilitated by tools such as Apple Pay and Google Pay;
  • online purchases, as exemplified by checking out on Amazon.com’s ecommerce hub;
  • peer-to-peer money transfers, as enabled by Venmo and Zelle and equivalent...

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