Since April 2020, the Consumer Finance Institute (CFI)’s COVID-19 Survey of Consumers has been gauging the economic impact of the pandemic. In addition to examining the pandemic’s impact on income and employment, the surveys also explore how consumers are paying for the products and services they are buying in lockdown. The results show that just as the lockdowns have disrupted consumer spending patterns, they have also shifted the type of payment tools shoppers are using.
Consumers Are Shifting Payment Options
13 Jul ’20
This research brief discusses how consumers have changed their use of various payment and banking tools during the pandemic. It also sheds light on the payment resources consumers have available.