A new study available in the fourth quarter will measure consumer attitudes toward various payment methods including cash, bankcards (credit and debit), online payment methods and checks.
The PaymentDynamics 2006 Preferred Payments Study from TransUnion and Edgar, Dunn & Company expands on an earlier EDC study that tracked bankcards. The study will combine de-personalized credit data with in-depth consumer attitudes and perceived behavioral research from 10,000 consumers. The partnership with TransUnion lets EDC incorporate consumer credit information into the findings and market profiling for the first time.
The study is “a very comprehensive benchmark of consumers’ attitudes and preferences about payment methods,” said Tim Claytor, TransUnion director of market intelligence.
For example, the results will let financial services marketers determine whether a rewards offering really drives use of cards.
In addition, the study will include predictive and profiling tools developed by TransUnion, Chicago, and EDC, which has offices around the world.
A marketer will be able to compare what the debit cardholder from a particular bank looks like compared with consumers who use the bank’s online payment service. This will let financial services marketers determine whether they are attracting the kind of consumers they are targeting for their services, Mr. Claytor said.
Lastly, TransUnion and EDC will use the information to estimate who is likely to use certain services and why to create targeted consumer lists.
