Survey of Consumer Payment Choice
This survey fills a gap in knowledge about the role of consumers in the transformation of payments from paper to electronic.
- Consumers report adoption of of nine payment instruments, including cash.
- Consumers report frequency of use of the nine instruments.
- Consumers rate instrument characteristics like security, cost, and convenience.
Latest UpdateUpdated on May 18, 2021
The 2020 Survey of Consumer Payment Choice (SCPC) is the 13th in a series of annual studies that aim to gain a comprehensive understanding of the payment behavior of U.S. consumers. The SCPC data complement data from the Diary of Consumer Payment Choice (DCPC), for which consumers record details of specific transactions (including dollar values) and their payment choices. Respondents participate in these two surveys in September (SCPC) and October (DCPC).
In 2020, U.S. consumers made 68 payments per month on average, unchanged from 2019. Debit cards were used most often, for 23 payments, followed by credit cards (18 payments) and cash (14 payments).