Table of Contents
- Overview
- Primary Questions
- Findings and Analysis
- Gen Y Income to Exceed that of Baby Boomers within 10 Years
- Opportunities Abound for Gen Y Credit Card Issuance
- Generation Y Highly Values and Seeks more from Existing Credit Card
Rewards Programs
- More than Consumers overall, Gen Y is Attracted to Catalog Rewards Points
- Gen Y Lives up to Anecdotal Debit Card Usage across Transaction Types
- Gen Y Check Usage Is lower-particularly for more Recent Activity
- The Online Channel Does Not Serve all of Gen Y' s Needs-Other Channels
Cannot Be Ignored for Customer Service
- Gen Y Displays Similar Distaste for Transaction Surcharging
- Gen Y Is Slightly more Trusting that Merchants Will Share Interchange
Gains
- Gen Y May Use Alternative Devices for Contactless Transactions at a Higher
Rate than other Population Groups, but Most Prefer Card Form Factor
- Higher Percentage of Gen Y Have Not Purchased Online
- Privacy and Security Do Not Resonate as Clearly with Gen Y as Benefits
to Drive Usage of New Payment Types for Online Transactions
- Appendices-Additional Data about Gen Y Banking Behaviors and Attitudes
- Methodology
- Related Research
Table of Figures
- Figure 1 Projected Income Growth by Generation
- Figure 2: Credit Card Penetration among Gen Y
- Figure 3: Credit Card Feature Satisfaction and Importance
- Figure 4: Rewards Features Currently Earned on Credit Card
- Figure 5: Payment Type Preferences for Various Purchases
- Figure 6: Check Usage among Various Demographic Groups
- Figure 7: Importance of Credit Card Features by Generational Group
- Figure 8: Disinclination to Still Use Card with Surcharge
- Figure 9: Gen Y Beliefs on Merchant Reaction to Lower Interchange
- Figure 10: Willingness to Use Contactless Embedded in Other Devices
- Figure 11: Gen Y Online Purchase Velocity compared to Consumers Overall
- Figure 12: Benefits That Would Cause Gen Y to Consider a New Online Form
of Payment
- Figure 13: Importance of Features When Deciding Which Card to Use
- Figure 14: Last Time Used Check, Credit or Debit as Purchase Method
- Figure 15: Reasons for Abandoning an Online Purchase
- Figure 16: Form of Payment Used on Last Online Purchase
- Figure 17: Actions Being Taken to Keep Safe When Purchasing Online
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