Chargebacks911, the fintech company that offers payment dispute solutions, conducted a study revealing that The average American cardholder has 5.5 active credit or debit cards.
The figure represents an increase of 38% Compared to pre-Covid-19 estimates, however, the data are not distributed equally between men and women.
“The 2024 Cardholder Dispute Index”, created in collaboration with the analysis and consulting firm TSG (The Strawhecker Group), revealed that women reported having 4.8 cards on average, while men had an average of 6.2.
Previous studies, such as a 2019 Experian study, estimated the number of cards owned was lower. According to the authors of the report, a change in purchasing habits after the pandemic could explain the increase.
“The trend toward online shopping is obvious,” says Jarrod Wright, director of marketing at Chargebacks911. “Electronic commerce currently represents almost the 16% of all US retail salesand estimates show that figure will exceed 20% by 2027.”
Chargebacks911 notes that Americans are increasingly reliant on digital transactions and the payment cards that allow them flexibility to purchase your preferences online.
“The Cardholder Dispute Index” also shows that cards remain the favorite payment method for most consumers, and 80% of respondents say credit or debit cards remain their preferred way to shop online. Mobile wallets followed, which was preferred by less than 10% of respondents.
The Index is available for free at Chargebacks911.com and provides insights into the purchasing behaviors and payment preferences of cardholders.
Chargebacks911 is a global chargeback prevention and remediation technology company. As a provider to fintech companies, it helps safeguard more than 2.4 billion transactions per year on behalf of clients in 87 countries around the world.
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· Americans face double challenge: reduced savings and more credit card debt
2024-02-08 15:04:58
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