Despite a race towards more payment convenience, Generation X is pumping the brakes. A new report from payment platform PXP Financial reveals that consumers aged 45 to 60 remain steadfastly loyal to debit and credit cards, prioritizing trust and security over innovative tools like mobile wallets.
Debit for everyday, credit for big-ticket items
Based on a survey of over 4,000 respondents in the UK and the US, the findings highlight Gen X as thoughtful and selective adopters of payment technology. Despite being comfortable with digital transactions, they still prefer traditional methods, particularly for larger purchases. Nearly half (49%) use debit cards for everyday spending, while 33% rely on credit cards for big-ticket items, such as travel, often to take advantage of fraud protection and rewards.
By contrast, only 6% of Gen X use mobile wallets for in-store purchases, and a mere 5% for travel bookings. Cash still has a place, too—22% prefer it when dining out with friends or family.
Security, transparency & choices
Kamran Hedjri, Group CEO of PXP, summed up Gen X’s approach: “Gen X approaches payments with a practical mindset—they want methods they can trust, clear payment terms and rewards that offer real value. They aren’t driven by hype, and businesses that want their loyalty need to prioritise security, transparency, and payment options that fit into their everyday routines.”
Key frustrations for this group include fraud risk (cited by 40%) and hidden fees (36%). Meanwhile, 51% rank security as their top concern when choosing how to pay.
There are signs of flexibility: 25% appreciate being able to split payments across methods, and nearly a third (31%) say loyalty programs with exclusive discounts influence their spending. But even here, the emphasis remains on tangible value.
Further payment insights
Other insights on Gen X from the PXP study reveal:
- 44% believe debit and credit cards provide the most secure online experience.
- 36% say hidden fees are a major frustration, preferring transparency at checkout.
- 28% are drawn to payment methods that offer rewards or cashback
- 19% use credit cards when dining out.
- 12% use digital wallets like PayPal.
For businesses, the takeaway is clear: keep it trustworthy, transparent, and grounded in tangible benefits.
You can download a free copy of PXP Financial’s Gen X and the Future of Payments report here.
By Jeff Domansky, Managing Editor
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