Consumers Exercising All Options for Payment Options

Toronto, ON - Consumers have more ways to pay than ever before, but how are they paying for their purchases? A new study from Ipsos looks into the subject. The Ipsos Payment Methods Report is the result of a groundbreaking study exploring the factors and drivers influencing payment method choice, preferences exhibited by different market segments, and loyalty to card brands and issuers.

The study examines the way Canadian credit card holders use cash, debit and credit cards for over-the-counter purchases. Results from the study show that about one-in-three cardholders (34%) say they are heavy debit card users, using it more than cash and credit cards combined. One-in-four (25%) use credit cards more than the other methods of payment combined. Only one-in-ten prefer to pay with cash. The remainder (28%) use a more even mix of methods for personal spending.

Heavy credit card users use credit cards twice as much as the average cardholder, both in terms of frequency and dollar value. They tend to replace the debit card with the credit card, using it for a greater variety of purchases including grocery shopping and small purchases - categories that are traditionally associated with cash and debit.

"This indicates growth potential for credit card use," says John Mohler, Associate Vice President with Ipsos in Toronto. "While many consumers have concerns about credit card use related to money management or spending control issues, a minority see credit cards as tools to manage spending and save money in the long run. As well, credit card issuers have not yet fully tapped the grocery spending segment - an area that is not necessarily impenetrable."

These are just some of the findings from the Ipsos Payment Methods Report, a syndicated survey conducted online between April 27, 2010 and May 10, 2010 with 2,786 Canadians who have at least one credit or charge card used for personal spending.

For more information on this news release, please contact:

John Mohler
Associate Vice President
Ipsos Reid
(416) 572-4416
[email protected]

About Ipsos Reid

Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.

To learn more, please visit www.ipsos.ca.

About Ipsos

Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.

Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe. Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999. In 2009, Ipsos generated global revenues of e943.7 million ($1.33 billion U.S.). .

Visit www.ipsos-na.com to learn more about Ipsos offerings and capabilities.

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