Generation Pay by Bank: Why Gen Z and Millennials Hold the Key to Widespread Adoption

What Consumers Need for Pay by Bank to Catch On

Pay by bank providers have a big hurdle to overcome: Most consumers are not aware of this payment method. Raising awareness plus offering the right incentives may be crucial to driving pay by bank adoption, according to PYMNTS Intelligence’s latest report, “What Consumers Need for Pay by Bank to Catch On,” a collaboration with Trustly.

Inside the October Study
  • 72%: Share of interested consumers who say receiving a low discount would make them use pay by bank more
  • 55%: Portion of Gen Z consumers who are interested in or intrigued by using pay by bank
  • 41%: Share of pay by bank users who are also intrigued about using it for ridesharing

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