PXP, the omnichannel global payment platform and innovative industry disruptor, today announced the results of an exclusive survey. The survey revealed that Gen Z overwhelmingly prefers instant, digital-first payment methods, with traditional banking options falling dramatically out of favour.
Key insights from the survey include:
To better understand Gen Z’s payment preferences, PXP partnered with Censuswide to conduct a survey of 2,000+ consumers aged 18 and above. The results have now been collated into a new report, Generational Trends 2025: Gen Z and the Future of Payments, which also includes practical ways merchants can leverage the data to future-proof their businesses.
The retail and travel sectors show particularly interesting trends among Gen Z consumers. In retail environments, while 34% of Gen Z shoppers still favour debit cards, digital wallets are quickly emerging as one of their top preferred payment methods, with 19% already choosing them for purchases in fashion stores and electronics shops—the highest percentage across all generations who took part in the research. This demonstrates a rising interest and growing trust in digital-first solutions, even for higher-value transactions.
For the travel sector, Gen Z expectations are reshaping the landscape, with 57% considering multi-currency wallets essential for their journeys. This tech-savvy generation is also increasingly using Buy Now, Pay Later options to spread the cost of travel experiences and showing strong interest in biometric payments for streamlined check-ins and purchases whilst abroad.
Commenting on the launch, Magda Schmid-Debska, VP growth & marketing for PXP, said: “Gen Z’s influence extends far beyond the checkout. Their willingness to embrace new payment technologies—whether fingerprint logins or blockchain-based systems—sets them apart from other generations, driving demand for seamless, near-invisible transactions. From retail to hospitality, everything but cutting-edge payment experience is no longer acceptable.
“For businesses, this presents a crucial opportunity: optimising the checkout experience across digital and in-store channels isn’t just about convenience—it’s key to winning Gen Z’s loyalty. The rise of live commerce and social shopping platforms is further transforming how Gen Z discovers and purchases products. It will be fascinating to watch how emerging social media trends continue to reshape payment preferences and merchant strategies in this rapidly evolving landscape. To stay ahead, merchants must move swiftly to adopt tech that ensures fast, frictionless, and secure transactions. Those who get it right won’t just attract a key demographic; they’ll define the future of payments in an era of innovation and adaptability.”
The full report, Generational Trends 2025: Gen Z and the Future of Payments, provides deep insights into the evolving payment landscape and is essential reading for businesses and financial service providers.
To read the full report, visit: https://pxp.io/gen-z-and-the-future-of-payments
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