This report provides comprehensive and current information and analysis of the Hispanic payment preferences market including Hispanic payment preferences market size, anticipated market forecast, relevant market segmentation, and industry trends for the Hispanic payment preferences market in the US.
Hispanics are seeking payment methods they can trust. As this segment’s needs change, so does their preference for payment methods that better address their lifestyles and desires. Thus traditional payment options face challenges from mobile alternatives that have the potential to fill unmet needs.
As Hispanics’ buying power grows, they are looking for payment methods that align with their financial goals. Although consumers continue to depend on traditional payment instruments like cash, debit cards and credit cards for purchases, the rising prevalence of alternative financing and digital payment services has diversified consumers’ wallets and created an increasingly competitive battle for preferred payment methods.
Read on to discover more about the Hispanic payment preferences consumer market, read our Payment Preferences – US – 2021 report, or take a look at our other Financial Services market research reports.
Brands include: Sezzle, Cash App, Credit Karma, Sequin, PayPal, Zelle, Bank of America.
This report, written by Stefanie Kundakjian, a leading analyst in the Multicultural sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The Covid-19 pandemic and uncertain financial times accelerated many of the shifts that were already occurring within the payment landscape. Latinos are seeking brands they can trust and are interested in adopting novel payment methods that address their specific needs. Access and economic disparities condition Latinos’ payment habits and attitudes, despite their growing buying power. The number of payment types that Hispanics interact with in their daily lives is broad as widespread adoption of digital and mobile payment alternatives become entrenched.
Stefanie Kundakjian
Multicultural Consumer Insights Analyst, Hispanic Focus
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