Payments

Payment digitalization changing consumer spending approach

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March 18, 2026

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Nearly half, 48%, of consumers, and nearly 63% of Gen Z shoppers, report that the digitalization of payments has significantly changed how they approach spending.

That's a prime finding of a NMI research survey, which also revealed 50% report they shop more frequently when payment experiences feel seamless.

The survey polled 1,000 U.S. adults, according to a press release.

The "Psychology of Payments" survey also reported that 50% of those polled admit they abandon carts when the checkout process feels complicated or frustrating.

More than half, 52%, said they prefer secure, one-click online checkout over a slower in-person interaction with a cashier.

"This study confirms what we're seeing across our platform: frictionless payments increase conversion rates, raise average order value and strengthen loyalty. Yet, many small businesses are falling behind; 40% of SMBs still don't accept digital wallets and nearly half (47%) lack an e-commerce presence. As consumer expectations evolve, that gap becomes harder to close. The fastest way forward is partnering with software providers that embed modern, omnichannel payment capabilities directly into their platforms," Peter Galvin, chief growth officer at NMI, said in the release.