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TSYS Releases 2016 U.K. Consumer Payments Study

Mar 17, 2016

Second report follows the inaugural 2015 research with new findings

COLUMBUS, Ga., and London, U.K., 17 March, 2016 — TSYS (NYSE: TSS) today announced the results of its 2016 U.K. Consumer Payment Choice Study. New to the second annual research were findings related to emerging payments. The online survey of more than 500 U.K. consumers found that P2P payments and lending are moving mainstream, contactless has arrived and Bitcoin has low rates of consumer awareness.

"We expect the relationship between digital engagement and emerging payments to continue as innovation increases and new products become available to consumers," said John Goodale, group executive, strategic markets, issuer product group, TSYS. "Providing a more integrated customer experience and expanded consumer choices will help drive progress and increased adoption across the payments industry."

In addition to providing insight into the growth of emerging payments, the study also tracks developments in behaviour and information around consumer preferences for payment and communication methods. Other key findings include:

  • U.K. consumers like tools which allow them to proactively monitor, track and manage their accounts. 
  • U.K. consumers consider the idea of paying in instalments a valuable proposition — with a substantial increase in terms of perceived value in comparison to 2015. 
  • The majority of respondents would like to determine the level of offers and discounts they receive from a merchant identified by their bank, with a slight increase in terms of perceived value compared with 2015.
  • Contactless cards usage has reached critical mass, led by younger and wealthier demographics.
  • M-payments could increase in the short term if consumers were more informed about tokenisation.

To learn more about U.K. consumer preferences and to get the complete survey results, visit: http://tsys.com/2016UKPaymentsReport.

About TSYS
TSYS® (NYSE: TSS) unlocks opportunities in payments for payment providers, businesses and consumers. Our headquarters are in Columbus, Georgia, USA, and we operate in more than 80 countries with local offices across the Americas, EMEA and Asia-Pacific.

We provide seamless, secure and innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management — delivered through partnership and expertise. We succeed because we put people, and their needs, at the heart of every decision. It's an approach we call 'People-Centered Payments®'.

Our industry is changing every day — and we're leading the way towards the payments of tomorrow. We routinely post all important information on our website. For more, visit us at tsys.com.

Contacts:
Cyle Mims
TSYS Media Relations
+1.706.644.3110
cylemims@tsys.com

Shawn Roberts
TSYS Investor Relations
+1.706.644.6081
shawnroberts@tsys.com

Victoria Winn
TSYS International
+44.1904.562.577
victoriawinn@tsys.com