Younger consumers are points-focused.
Pulse check: What do customers think of payment rewards? Research from Sawbux and PYMNTS.com found:
- 35% of Gen X consumers prefer to use a payment method because of the ability to earn points or rewards.
- Meanwhile, 20% of Millennials won’t even use a payment method that does not earn them points or rewards.
- 29% of Millennials are also interested in online bank transfer for retail transactions, provided they can earn points or rewards.
The takeaway: Older generations like rewards; younger generations expect them.
Rewarding partnerships: Younger customers are also likely to need financing. As a leader in POS industry finance, TimePayment can help build payment solutions that give customers the confidence to move forward. If you have a unique finance need or are interested in building bundled payment alternatives, reach out and contact us today, or visit our Payment Industry page.