Consumer preferences for payment methods: a segmentation analysis

Abstract

Three distinct groups of banking customers in New Zealand are identified on the basis of their preferences for different payment methods. These are profiled in terms of membership of wider lifestyle groupings, as well as their demographic and socio‐economic characteristics, and other financial behaviours. The results demonstrate how psychological profiling can help in understanding consumers’ banking behaviour and preferences in the wider context of their lifestyle, as well as suggesting strategic directions banks can adopt.

Citation

Lawson, R. and Todd, S. (2003), "Consumer preferences for payment methods: a segmentation analysis", International Journal of Bank Marketing, Vol. 21 No. 2, pp. 72-79. https://doi.org/10.1108/02652320310461456