Digital-first, but not digital only! This is what we found consumers prefer based on a recent survey of 1,000 consumers in the United States.

This survey (see this infographic) generated unique insights around the state of the American consumer, including their preferred ways to pay and which digital banking innovations excite them the most.

We learned that consumers ask for digital experiences, but not exclusively digital: Indeed, physical cards are still widely utilized and will remain a valuable tool for for issuers looking to provide a complete payments experience.

The survey showed that consumers continue to prefer physical payment cards in-store (69%), while 14% prefer using a digital wallet (Apple Pay or Google Pay, for example). Another 14% of respondents prefer paying with cash. Even so, digital payment experiences and digital touchpoints are very relevant to the consumer. Read this article on the importance of digital onboarding, and this article on how offering more payment choice will help push customer acquisition.

We see this preference for both digital and physical also when we have a look at interactions with the bank. We asked: How do you prefer to interact with your bank? Respondents told us that while they prefer to engage with their banks digitally (51.2% say they mainly use the mobile app, and 22.7% say that they prefer to interact via their banks website), nearly 20% of the surveyed people still listed in-person (or in a branch) as their preferred way of engagement. This shows us that banks must rise to the challenge and offer customers a variety of ways to interact to stay relevant and meet their needs.

Seamless, sustained payment enablement is key.

Net-net, consumers were loud and clear in their responses: Providing seamless, sustained payment enablement is key. And they want this not just when it comes to the types of cards that are offered, but also for every interaction with their bank, from account opening to onboarding, issuance, and payments.

We see a strong need for a complementary and complete card portfolio to answer the very diverse needs of cardholders and to cover all requested touchpoints along the banking and payment journey. Without these offerings in place, banks will find consumers are unwilling to compromise when it comes to finding a bank that will provide them with this flexibility, convenience, and efficiency.

If you want to learn more about U.S. consumer payment preferences, download this infographic.