73% of global consumers use online banking: Nielsen

The survey respondents indicated that globally, men are 36% more active investors than women

July 19, 2012 10:10 IST | India Infoline News Service
More than half (52%) of global online consumers indicate they use credit cards as a common payment method for dining, shopping and entertainment activities while 43% use debit cards, according to a new study from Nielsen, a leading global provider of information and insights into what consumers watch and buy. Nielsen’s study shows that nearly three-quarters of global online consumers who invest use online banking for their investment transactions.

Nielsen’s Global Survey surveyed more than 28,000 Internet respondents in 56 countries regarding their investment attitudes and shows that one-third of global consumers invest their money. Of those investing, 67% prefer stocks, 52% invest in mutual funds, 33% invest in gold, silver and other precious metals, while 32% invest in bonds, 31% in structured investment products, 22% in foreign currencies and 21% in derivatives.

Survey respondents indicated that globally, men are 36% more active investors than women. “It's important for finance and investment companies to know how consumers are investing, saving and paying for goods and what opportunities exist across both the developed and developing economic landscape,” said Oliver Rust, managing director, Nielsen Hong Kong.

Over 73% of global online consumers use online banking for their investment transactions while 69% conduct transactions at the bank (physical branch). Thirty-one percent of global investors use mobile phones for investment transactions, followed by 30% using a land line phone and 26% using an online investment brokerage or investment service provider. Twenty-two percent use financial planners to conduct investment transactions.

"Although concerns exist around security, consumers are seeking information through their mobile phones for investment decisions. The adoption of this platform is greatest amongst younger age groups and as the level of smartphone penetration accelerates, mobile usage for investment decisions is expected to grow accordingly, becoming a vital tool for making swift investment transactions and capturing different investment opportunities on the go," Mr Rust said.

Nielsen’s survey shows that when it comes to how consumers around the world prefer to pay for general shopping, dining, traveling or entertainment expenses, 80% pay with cash, 52% use credit cards, 43% use debit cards and 10% use checks.
"Cash still dominates but plastics are increasingly replacing cash as a payment tool,” said Mr Rust. "Paying with cash is very much ingrained in many cultures around the world where payment for goods and services is immediate. As wealth accelerates for consumers in emerging markets and the availability of payment terminals increase, we will see a greater level of acceptance of electronic payment methods over cash."

Respondents in Asia-Pacific are more receptive to using credit cards (59%) compared to other regions, and North Americans showed the highest propensity to use debit cards (63%). Middle Easterners are the least receptive to using either credit (29%) or debit (26%) cards as a preferred payment source. According to Nielsen’s survey, credit card usage is highest in Asia-Pacific markets such as Hong Kong (76%) and Singapore (62%).

"While consumers in these mature markets have a high credit card usage, most treat credit cards as a cashless payment tool for convenience and repay the debts in full every month," said Mr Rust.

Nielsen Holdings N.V. is a global information and measurement company. Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA and Diemen, the Netherlands.

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