The Digital Wallet Mandate - November 2022 - PYMNTS.com

2 years ago 55

background image

The Digital Wallet Mandate: Secure Bill
Pay Beyond The In-Store Point Of Sale, a
PYMNTS and ACI Worldwide collaboration,
examines consumers’ increasing interest
in utilizing mobile wallets beyond making
purchases in-store at the physical point
of sale. We surveyed 2,059 consumers
between Aug. 18 and Aug. 25 to explore
their level of comfort and involvement successful using
mobile wallets to manage their finances
and store delicate personal information.

NOVEMBER 2022

THE DIGITAL

WALLET

MANDATE:

S E C U R E B I L L P A Y

B E Y O N D T H E I N - S T O R E

P O I N T O F S A L E

/home/pulses/pdfToHtml/html/pdf-html.html

background image

3 | The Digital Wallet Mandate

Section | 4

TABLE

CONTENTS

The Digital Wallet Mandate: Secure Bill Pay Beyond The In-Store Point Of Sale
was produced successful collaboration with ACI Worldwide, and PYMNTS is grateful for
the company’s enactment and insight. PYMNTS retains full editorial control over
the following findings, methodology and data analysis.

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01

Surveying consumer interest . . . . . . . . . . . . . . . . .07

Reaping the benefits . . . . . . . . . . . . . . . . . . . . . . . . 11

Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19

Methodology. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

THE DIGITAL

WALLET

MANDATE:

S E C U R E B I L L P A Y

B E Y O N D T H E I N - S T O R E

P O I N T O F S A L E

/home/pulses/pdfToHtml/html/pdf-html.html

background image

1 | The Digital Wallet Mandate

Introduction | 2

INTRODUCTION

Contactless payment for purchases at the point of sale (POS)

has retained its pandemic-boosted popularity, and physical
cards and mobile devices equipped with near-field commu-
nication (NFC) technology allow consumers to simply and

conveniently tap to pay in-store at virtually all retailers and restaurants.
A more recent application of the technology is making transit more
convenient, with systems similar New York City’s Metropolitan Transit
Authority enabling riders to pay their fares by tapping their cards or
mobile devices, supplanting the burdensome task of purchasing and
adding value to MetroCards.

While NFC enables these alternative payment methods at POS con-
soles, digital wallets provide the backbone down mobile device
payouts. Whether Apple Pay, Google Pay, Samsung Pay, Amazon Pay
or PayPal, the concept is the same: They provide unafraid retention of
and access to the consumer’s credit or debit card information for
each transaction. Digital wallets besides offer a convenient way to store
loyalty and rewards cards, transportation and event tickets, and even
driver’s licenses successful a handful of U.S. states.

Consumers person embraced contactless payments for their simplicity,
and they also appreciate their security features. By utilizing biometric
technology for user verification and tokenization to securely transmit
payment card information, digital wallets tin supply a type of dual
streamlining: They remove frictions specified as the possibility of entering
incorrect payment information and besides prevent unauthorized access
to personal and financial information.

This operation of simplicity and security may help explicate exactly
why consumers feel comfortable with digital wallets. PYMNTS’ research
finds that consumers are much likely to usage mobile wallets to pay
bills and transfer money than they do to marque purchases in-store,
for example. While 49% of consumers usage mobile wallets to pay bills
and transfer money to and from bank accounts, 46% of consumers
use mobile wallets to marque peer-to-peer (P2P) transfers and only 27%
use mobile wallets successful a physical store at the POS. Ease of use and
convenience are again the biggest motivators, with three-quarters of
consumers saying they currently use mobile wallet features for these
reasons.

The Digital Wallet Mandate: Secure Bill Pay Beyond The In-Store Point
Of Sale, a PYMNTS and ACI Worldwide collaboration, examines con-
sumers’ growing interest in using mobile wallets for more than making
purchases in-store at the physical POS. We surveyed 2,059 consum-
ers between Aug. 18 and Aug. 25 to explore their level of comfort and
interest in utilizing mobile wallets to manage their finances and store
sensitive personal information.

THIS IS WHAT WE LEARNED.

/home/pulses/pdfToHtml/html/pdf-html.html

background image

3 | The Digital Wallet Mandate

Introduction | 4

Consumers usage mobile wallets astatine least 73% more
to pay bills and nonstop money to others than they do
to marque purchases in-store. Even consumers who
do not currently use mobile wallets for bill pay and
money transfer are much funny successful utilizing mobile
wallets for these reasons than for in-store purchases.

PYMNTS’ research finds that consumers usage mobile
wallets to pay bills and transfer money to others 73%
to 85% more than paying for in-store purchases. While
49% of consumers use mobile wallets to pay bills and
transfer money to and from bank accounts and 46%
of consumers usage mobile wallets to nonstop money peer
to peer, only 27% of consumers usage mobile wallets
for payment via NFC or QR codification successful physical stores.
Meanwhile, only 17% of consumers who do not use QR
codes or NFC for in-store payments want to use this
mobile wallet feature in the future. Similarly, approxi-
mately 19% of consumers not using mobile wallets to
pay bills or transfer money want to use mobile wallets
for these features in the future.

Consumers are also highly interested in using mobile
wallets for other applications specified as storing ID
cards, event tickets or virtual keys and managing
rewards and discounts. More than two-thirds of
consumers who usage QR codes or NFC for in-store
payments want to continue using that feature in the
future. In comparison, only 17% of those not currently
using QR codes or NFC for in-store payments are inter-
ested successful utilizing the features in the next 12 months.

Among current mobile wallet users, 67% of consum-
ers who use mobile wallets for applications such as
storing ID cards, event tickets or virtual keys are very
or extremely interested successful continuing to bash so, while
only 20% of those not currently using these features
are arsenic highly interested successful using them in the next 12
months. Among those who negociate rewards and dis-
counts with mobile wallets, 65% of current users are
very or extremely interested successful continuing to bash so,
while 24% of those not currently using the feature are
very or extremely interested successful utilizing it in the future. In
addition, while 68% of consumers who usage QR codes
or NFC for in-store payments want to proceed using
this feature in the future, only 17% of consumers who
do not use this feature want to usage it in the next 12
months.

/home/pulses/pdfToHtml/html/pdf-html.html

background image

5 | The Digital Wallet Mandate

Introduction | 6

Consumers are drawn to mobile wallets for bill
pay for ease of use and instant pay options. Half of
consumers person utilized mobile wallets to pay bills in
the last 12 months.

PYMNTS’ research finds that bill pay is the most widely
used mobile wallet feature, with 49% of consumers
having utilized mobile wallets to pay bills in the last 12
months. Consumers usage bill pay an mean of six to
seven days a month, and 51% consider it an extremely
important feature of mobile wallets. Three out of four
consumers usage mobile wallets for speed and conve-
nience, with 50% citing velocity and convenience as the
most important reason to usage mobile wallets for bill
pay and 62% reporting that they are very or extremely
satisfied with utilizing mobile wallets to pay bills.

Consumers rely on mobile wallets to streamline
and unafraid access to their financial and personal
information. Four out of five consumers want an easier
and much convenient way to negociate aspects of their
financial and personal lives, while two out of three
consumers use mobile wallets for security across all
such features.

Consumers are funny successful utilizing mobile wallets
now and in the future — not only for ease of use and
convenience, but also for security. While 84% to 85%
of consumers currently use mobile wallet features for
ease of use and convenience, approximately 80% use
mobile wallets to save time. Two-thirds of consum-
ers usage mobile wallets for security, with those very or
extremely interested successful mobile wallets in the next 12
months citing security of their financial and personal
information arsenic a reason to usage mobile wallets.

/home/pulses/pdfToHtml/html/pdf-html.html

background image

7 | The Digital Wallet Mandate

Section | 8

SURVEYING

CONSUMER

INTEREST

Mobile wallets alteration easy tap-to-pay convenience for

in-store purchases, but PYMNTS’ research reveals that
consumers are much funny successful other use cases. In
fact, consumers are between 73% and 85% more likely to

pay bills and transfer money with digital wallets than they are to use
them to pay for in-store purchases at a physical POS. Though 49% of
consumers use mobile wallets to pay bills and transfer money to and
from bank accounts and 46% of consumers usage mobile wallets to
send money peer to peer, only 27% use mobile wallets to pay in-store
at the POS.

Consumers who person utilized digital wallets would generally do truthful again,
yet those who have not utilized certain mobile wallet features are much
less likely to statesman using them in the future. According to PYMNTS’
research, 66% of those who currently use mobile wallets to pay bills

Source: PYMNTS

The Digital Wallet Mandate: Secure Bill Pay Beyond

The In-Store Point Of Sale, November 2022

N = 2,059: Whole sample, fielded Aug. 18, 2022 –

Aug. 25, 2022

want to proceed utilizing mobile wallets
for this purpose, whereas only 20% of
those who bash not use this feature want
to bash truthful in the next 12 months. Also, 67%
of those who currently use mobile wal-
lets to nonstop money P2P and to transfer
money to and from bank accounts want
to use these mobile wallet features in
the future, yet just 19% of those who do
not currently use these features want to
do truthful in the next 12 months.

FIGURE 1:

Mobile wallet use cases

Share by which mobile wallet use

in prime situations exceeds that of

in-store payments

85.2% 0000000000

Bill pay

84.8% 0000000000

Transfer to and from bank accounts

73.4% 0000000000

Send peer-to-peer payments

7 | The Digital Wallet Mandate

Surveying user interest |

THE DIGITAL

WALLET

MANDATE:

S E C U R E B I L L P A Y

B E Y O N D T H E I N - S T O R E

P O I N T O F S A L E

/home/pulses/pdfToHtml/html/pdf-html.html

background image

9 | The Digital Wallet Mandate

Surveying user interest | 10

49.3% 0000000000

Pay bills

46.8% 0000000000

Store physical debit or credit card

43.1% 0000000000

Receive propulsion notifications

27.5% 0000000000

Manage household

49.2% 0000000000

Transfer to and from bank accounts

40.5% 0000000000

Store virtual debit or credit card

37.8% 0000000000

Track and negociate rewards and discounts

21.7% 0000000000

Use analytics-based dashboards to check data

46.2% 0000000000

Send peer-to-peer payments

33.4% 0000000000

Store any ID card, ticket, boarding walk or

virtual key

33.8% 0000000000

Manage supplies

18.3% 0000000000

Use chatbot

46.1% 0000000000

Manage transactions

28.1% 0000000000

Split bills or payments

26.6% 0000000000

Pay merchants through QR codification or NFC tap

to pay

FIGURE 2A:

Consumers’ interest in and usage of mobile wallets

Share of consumers who currently use prime mobile wallet features
PAYMENTS

STORE SENSITIVE INFORMATION

PERSONAL LIFE MANAGEMENT

Source: PYMNTS

The Digital Wallet Mandate: Secure Bill Pay Beyond The

In-Store Point Of Sale, November 2022

N = 2,059: Whole sample, fielded Aug. 18, 2022 –

Aug. 25, 2022

Consumers who bash not already use mobile wallets for bill pay and
P2P money transfer are much funny successful utilizing mobile wallets for
those specific features than paying for in-store purchases. While 68%
of consumers who usage QR codes or NFC for in-store payments want
to continue using this feature in the future, only 17% of consumers
who bash not use this feature want to usage it in the next 12 months.

Also of interest to consumers is the ability to usage mobile wallets to
store ID cards, event tickets or virtual keys. The pattern is the same:
While 67% of current users of this feature are very or extremely inter-
ested successful continuing to bash so, just 20% of those not currently using
the feature say that they are very or extremely interested successful utilizing it
in the future. Consumers are besides funny successful utilizing mobile wallets
to negociate rewards and discounts.

FIGURE 2B:

Consumers’ interest in and usage of mobile wallets

Share of consumers very or extremely interested successful utilizing select features

in the next year, by usage in the past year

Sample

Not used

Used

46.9%

66.3%

19.8%

0000000000

Pay bills

42.4%

64.9%

24.3%

0000000000

Receive propulsion notifications

39.5%

59.6%

14.8%

0000000000

Store physical debit or credit card

33.3%

65.5%

17.4%

0000000000

Split bills or payments

29.6%

64.4%

17.6%

0000000000

Use analytics-based dashboards to check data

45.2%

66.9%

19.4%

0000000000

Send peer-to-peer payments

32.6%

62.8%

18.1%

0000000000

Manage supplies

38.3%

66.6%

19.9%

0000000000

Store any ID card, ticket, boarding walk or

virtual key

46.8%

66.9%

19.1%

0000000000

Transfer to and from bank accounts

36.3%

64.2%

17.9%

0000000000

Track and negociate rewards and discounts

38.9%

61.3%

18.5%

0000000000

Store virtual debit or credit card

44.0%

63.6%

20.8%

0000000000

Manage transactions

31.6%

47.7%

14.9%

0000000000

Manage household

33.1%

67.6%

17.3%

0000000000

Pay merchants through QR codification or NFC tap

to pay

21.5%

58.6%

11.4%

0000000000

Use chatbot

PAYMENTS

Source: PYMNTS

The Digital Wallet Mandate: Secure Bill Pay Beyond The

In-Store Point Of Sale, November 2022

N = 2,059: Whole sample, fielded Aug. 18, 2022 –

Aug. 25, 2022

STORE SENSITIVE INFORMATION

PERSONAL LIFE MANAGEMENT

/home/pulses/pdfToHtml/html/pdf-html.html

background image

11 | The Digital Wallet Mandate

Section | 12

REAPING THE

BENEFITS

On average, consumers use between five and six features

in a mobile wallet. Consumers who usage mobile wallets to
store delicate accusation and for personal life manage-
ment are apt to usage more features connected average: between

eight and nine.

Bill pay leads all mobile wallet features, arsenic half of consumers have
used mobile wallets to pay bills in the last 12 months. These and other
popular uses are fairly frequent: Bill pay, as well as transferring funds
to and from bank accounts and sending P2P payments, are utilized on
average six to 7 days per month. Not surprisingly, these features
are among those most likely to beryllium cited as very or extremely import-
ant to consumers. While 51% of consumers view bill pay as a very or
extremely important feature of mobile wallets, 49% identify transfer-
ring funds to and from bank accounts and 46% identify sending P2P
payments as very or extremely important mobile wallet features.

PYMNTS’ probe also finds that three out of four consumers are
driven to usage mobile wallets to pay bills due to the velocity and con-
venience of doing so, with 50% of consumers citing that as the most
important reason. A smaller share is motivated by the fastest speed
of all: 37% of consumers say that they use mobile wallets for instant
bill payment, with 12% citing instant bill pay as the most important
reason to use mobile wallets to pay bills. Critically, the process seems
to work well for users, arsenic 62% of consumers who usage mobile wallets
to pay bills are very or extremely satisfied with the process.

11 | The Digital Wallet Mandate

Reaping the benefits | 1

THE DIGITAL

WALLET

MANDATE:

S E C U R E B I L L P A Y

B E Y O N D T H E I N - S T O R E

P O I N T O F S A L E

/home/pulses/pdfToHtml/html/pdf-html.html

background image

13 | The Digital Wallet Mandate

Reaping the benefits | 14

48.5% 0000000000

Manage transactions

41.8% 0000000000

Store physical debit or credit card

31.4% 0000000000

Receive propulsion notifications

22.1% 0000000000

Use chatbot

31.2% 0000000000

Pay merchants through QR codification or NFC tap

to pay

40.5% 0000000000

Store virtual debit or credit card

30.5% 0000000000

Manage household

37.4% 0000000000

Track and negociate rewards and discounts

33.1% 0000000000

Split bills or payments

35.9% 0000000000

Store any ID card, ticket, boarding walk or

virtual key

28.8% 0000000000

Use analytics-based dashboards to check data

32.9% 0000000000

Manage supplies

50.9% 0000000000

Pay bills

49.1% 0000000000

Transfer to and from bank accounts

46.1% 0000000000

Send peer-to-peer payments

FIGURE 3A:

Consumers’ interest in and use frequency of

mobile wallet features

Average number of days per month consumers currently use

select mobile wallet features

FIGURE 3B:

Consumers’ interest in and use frequency of

mobile wallet features

Share of consumers who consider select mobile wallet features very

or extremely important

PAYMENTS

STORE SENSITIVE INFORMATION

PERSONAL LIFE MANAGEMENT

Source: PYMNTS

The Digital Wallet Mandate: Secure Bill Pay Beyond The

In-Store Point Of Sale, November 2022

N = 1,774: Respondents who usage any mobile wallet feature,

fielded Aug. 18, 2022 – Aug. 25, 2022

Source: PYMNTS

The Digital Wallet Mandate: Secure Bill Pay Beyond The

In-Store Point Of Sale, November 2022

N = 1,774: Respondents who usage any mobile wallet feature,

fielded Aug. 18, 2022 – Aug. 25, 2022

10.4 Manage transactions

13.4 Receive push notifications

10.3 Store physical debit or credit card
9.8 Store virtual debit oregon recognition card

8.1 Split bills oregon payments

12.9 Manage household
11.2 Use analytics-based dashboards

to cheque data

9.2 Use chatbot

6.5 Send peer-to-peer payments

8.2 Manage supplies

8.8 Pay merchants done QR codification or

NFC pat to pay

9.2 Track and manage rewards and

discounts

7.3 Store immoderate ID card, ticket, boarding

pass oregon virtual key

6.4 Pay bills

7.0 Transfer to and from slope accounts

/home/pulses/pdfToHtml/html/pdf-html.html

background image

15 | The Digital Wallet Mandate

Reaping the benefits | 16

FIGURE 4A:

Why consumers usage mobile wallets to pay bills

Share of consumers who usage mobile wallets to pay bills for

select reasons, by level of importance

11.9%

24.9%

36.8%

0000000000

Instant bill pay

10.7%

29.5%

40.2%

0000000000

Notifications

10.5%

21.5%

32.0%

0000000000

Security

4.4%

16.6%

21.0%

0000000000

Cost

3.8%

11.9%

15.7%

0000000000

Multiple options to pay

2.5%

14.2%

16.8%

0000000000

Ability to see the billing details

2.4%

9.5%

11.9%

0000000000

Other

Most important reason

Important, but not the astir important

Total

Source: PYMNTS

The Digital Wallet Mandate: Secure Bill Pay Beyond The

In-Store Point Of Sale, November 2022

N = 1,193: Respondents who usage mobile wallets to pay

bills, fielded Aug. 18, 2022 – Aug. 25, 2022

FIGURE 4B:

Why consumers usage mobile wallets to pay bills

Share of consumers citing prime levels of satisfaction

with paying bills utilizing mobile wallets

Very or extremely satisfied

Somewhat satisfied

Not astatine all or slightly satisfied

61.6%

24.3%

14.1%

At the same time, more than half of consumers surveyed say they
have experienced at least one challenge with paying bills through
mobile wallets, with 31% experiencing immoderate sort of payment issue.
Such issues include the inability to make payments instantly, the lack
of multiple payment methods and the inability to use a preferred pay-
ment option. Among consumers who are comfortable with bill pay,
47% of them did not experience any problems.

50.4%

25.6%

76.0%

0000000000

Speed and convenience

0000000000

/home/pulses/pdfToHtml/html/pdf-html.html

background image

17 | The Digital Wallet Mandate

Reaping the benefits | 18

FIGURE 5A:

Reasons consumers usage mobile wallets

Share of consumers citing prime reasons influencing their

decision to usage prime mobile wallet features, by use type

FIGURE 5B:

Reasons consumers usage mobile wallets

Share of consumers citing prime reasons they are funny in

using digital wallets in the next 12 months, by use type

79.5%

81.2%

81.4%

0000000000

Saves time

79.1%

80.0%

80.8%

0000000000

Saves time

83.7%

85.0%

84.8%

0000000000

Easy and convenient

79.0%

80.4%

79.9%

0000000000

Easy and convenient

58.6%

61.0%

60.3%

0000000000

Trust in the provider

50.8%

59.9%

59.6%

0000000000

Trust in the provider

63.3%

64.6%

66.3%

0000000000

Security

64.1%

64.8%

66.3%

0000000000

Security

Financial

Personal life management

Store delicate information

48.9%

52.2%

54.9%

0000000000

Rewards, discounts or offers

56.9%

59.7%

60.9%

0000000000

Rewards, discounts or offers

49.7%

51.0%

52.4%

0000000000

Low cost

53.2%

53.5%

55.5%

0000000000

Low cost

23.6%

24.8%

25.1%

0000000000

Other factors

16.0%

16.3%

16.5%

0000000000

Other factors

Source: PYMNTS

The Digital Wallet Mandate: Secure Bill Pay Beyond The

In-Store Point Of Sale, November 2022

N = 1,774: Respondents who usage any mobile wallet feature,

fielded Aug. 18, 2022 – Aug. 25, 2022

Our data also shows that consumers predominantly use mobile wallets
because they offer an easier and much convenient way to negociate all
aspects of their financial and personal lives. While 84% to 85% cur-
rently use mobile wallet features for ease of use and convenience,
approximately 80% use mobile wallets to save time. Consumers also
reported interest in utilizing mobile wallets in the future due to the fact that of ease
of use and convenience and to save time.

Two-thirds of consumers use mobile wallets to keep their financial
and personal information secure, with a similar share of consumers
who are funny successful utilizing mobile wallets in the next 12 months to
secure their financial and personal information,.

Approximately 60% of consumers cited a lack of need arsenic a reason
for not currently using various mobile wallet features, meaning that
expected benefits person not quite outweighed the friction of building a
new payment habit for some. Lack of need was the most cited reason
for disinterest in utilizing mobile wallets in the next 12 months.

/home/pulses/pdfToHtml/html/pdf-html.html

background image

19 | The Digital Wallet Mandate

Section | 20

CONCLUSION

METHODOLOGY

For many consumers, contactless payments for in-store

purchases via a physical card may seem easier than
paying with a mobile wallet via NFC or QR code. Yet,
with the near ubiquitous usage of mobile devices for

everything from online shopping to financial transactions, it
is nary surprise that digital wallet usage for the latter has out-
paced usage arsenic a payment method at the POS. Ease of use and
convenience are starring benefits of using a mobile wallet, with
time savings and improved security also important expected
gains. As digitally savvy consumers expect these improvements
everywhere they engage with today’s connected economy,
digital wallets’ ability to meet consumers’ demands is solidi-
fying the technology as an increasingly attractive solution for
those transacting via mobile device.

The Digital Wallet Mandate:

Secure Bill Pay Beyond The
In-Store Point Of Sale is based
on a census-balanced survey

of 2,059 U.S. consumers that was con-
ducted from Aug. 18 to Aug. 25. The report
examines consumers’ growing interest
in using mobile wallets for more than
making purchases in-store at the phys-
ical point of sale, exploring their level of
comfort and interest in using mobile wal-
lets to manage their finances and store
sensitive personal information. Our sam-
ple was balanced to match the U.S. adult
population successful a set of key demographic
variables: 52% of respondents identified
as female, 34% were college-educated
and 38% reported incomes of more than
$100,000 per year.

Methodology | 2

THE DIGITAL

WALLET

MANDATE:

S E C U R E B I L L P A Y

B E Y O N D T H E I N - S T O R E

P O I N T O F S A L E

/home/pulses/pdfToHtml/html/pdf-html.html

background image

21 | The Digital Wallet Mandate

Section | 22

ABOUT

PYMNTS is where the best minds and the best
content meet on the web to larn about “What’s
Next” successful payments and commerce. Our interactive
platform is reinventing the way in which companies
in payments stock relevant information about the
initiatives that shape the future of this dynamic
sector and marque news. Our data and analytics team
includes economists, data scientists and industry
analysts who work with companies to measure and
quantify the innovation that is at the cutting edge
of this new world.

ACI Worldwide is a global leader in mission-critical,
real-time payments software. Our proven, secure
and scalable bundle solutions alteration leading
corporations, FinTechs and financial disruptors to
process and manage digital payments, power omni-
commerce payments, present and process bill
payments, and manage fraud and risk. We combine
our global footprint with a local presence to drive
the real-time digital transformation of payments
and commerce.

The Digital Wallet Mandate: Secure Bill Pay Beyond The In-Store Point Of Sale may be updated periodically. While
reasonable efforts are made to keep the content accurate and up to date, PYMNTS: MAKES NO REPRESEN-
TATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, REGARDING THE CORRECTNESS, ACCURACY,
COMPLETENESS, ADEQUACY, OR RELIABILITY OF OR THE USE OF OR RESULTS THAT MAY BE GENERATED FROM
THE USE OF THE INFORMATION OR THAT THE CONTENT WILL SATISFY YOUR REQUIREMENTS OR EXPECTATIONS.
THE CONTENT IS PROVIDED “AS IS” AND ON AN “AS AVAILABLE” BASIS. YOU EXPRESSLY AGREE THAT YOUR USE
OF THE CONTENT IS AT YOUR SOLE RISK. PYMNTS SHALL HAVE NO LIABILITY FOR ANY INTERRUPTIONS IN THE
CONTENT THAT IS PROVIDED AND DISCLAIMS ALL WARRANTIES WITH REGARD TO THE CONTENT, INCLUDING
THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND NON-IN-
FRINGEMENT AND TITLE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES,
AND, IN SUCH CASES, THE STATED EXCLUSIONS DO NOT APPLY. PYMNTS RESERVES THE RIGHT AND SHOULD
NOT BE LIABLE SHOULD IT EXERCISE ITS RIGHT TO MODIFY, INTERRUPT, OR DISCONTINUE THE AVAILABILITY
OF THE CONTENT OR ANY COMPONENT OF IT WITH OR WITHOUT NOTICE.

PYMNTS SHALL NOT BE LIABLE FOR ANY DAMAGES WHATSOEVER, AND, IN PARTICULAR, SHALL NOT BE LIABLE
FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL, OR INCIDENTAL DAMAGES, OR DAMAGES FOR LOST PROFITS,
LOSS OF REVENUE, OR LOSS OF USE, ARISING OUT OF OR RELATED TO THE CONTENT, WHETHER SUCH DAM-
AGES ARISE IN CONTRACT, NEGLIGENCE, TORT, UNDER STATUTE, IN EQUITY, AT LAW, OR OTHERWISE, EVEN IF
PYMNTS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

SOME JURISDICTIONS DO NOT ALLOW FOR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR
CONSEQUENTIAL DAMAGES, AND IN SUCH CASES SOME OF THE ABOVE LIMITATIONS DO NOT APPLY. THE ABOVE
DISCLAIMERS AND LIMITATIONS ARE PROVIDED BY PYMNTS AND ITS PARENTS, AFFILIATED AND RELATED COM-
PANIES, CONTRACTORS, AND SPONSORS, AND EACH OF ITS RESPECTIVE DIRECTORS, OFFICERS, MEMBERS,
EMPLOYEES, AGENTS, CONTENT COMPONENT PROVIDERS, LICENSORS, AND ADVISERS.

Components of the content original to and the compilation produced by PYMNTS is the property of PYMNTS
and cannot be reproduced without its prior written permission.

DISCLAIMER

We are funny in your feedback on this report. If you person questions or comments,
or if you would like to subscribe to this report, delight email us at feedback@pymnts.com.

Read Entire Article