Women's Payment Preferences
4:45pm - 5:30pm

The media is awash with stories on the boom in mobile commerce, Millennials’ usage of P2P payments and the current credit card rewards arms race. However, banks and payment providers often struggle as they attempt to mine potential opportunities with a “one-size-fits-all” model. The reality is that within the evolving payments landscape there are significant differences in how men and women approach financial services and pay for purchases. For example, women are more likely to own a store branded credit card then men and among private label card owners, men tend to own just one card vs. women who tend to own multiple cards.

In this session, we explore how women approach payment products and the potential marketing opportunities they represent:

  • Are women better candidates for credit card balance transfer programs than men?
  • Is gender a bigger factor in the preference decision for using debit cards at POS over age and income?
  • What types of credit card rewards resonate most with women?
  • Among existing premium reward card cardholders, e.g., Chase Sapphire Reserve and Amex Platinum, who is a greater attrition risk – men or women and why?