The Galitt PayObserver is a consumer study carried out in 5 countries and aims to shed light on payment patterns and perception around payment innovations.
Payments has undergone a major transformation in recent years, notably to more digital options, but there is a large degree of heterogeneity among consumers in how they pay. Consumer payment behaviour is a complex mix of supply aspects, such as costs, new technologies and merchant acceptance, as well as demand aspects such as consumer preferences, expectations, and perceptions. Consumer behavioural changes, however, are not linear and consequently their stickiness will depend on the satisfaction of the new experiences. Consequently, the payment industry is constantly seeking to improve the customer experience with smoother and more convenient payment paths underpinned by more advanced technologies. Financial institutions, merchants, payment industry players, start-ups and tech giants are fighting for this colossal market: the payment industry is expected to double its revenues by 2030, reaching $2.9 trillion.*
Galitt, a Sopra Steria company, is committed to helping all these players transform their payment services to make them simple, efficient, and secure in everyday life. As such, Galitt launched the Galitt PayObserver, a consumer payment survey conducted in Belgium, France, Germany, Italy and the UK.
*BCG Global Payments 2021