Gen Z’s Role in Transforming the Payments Landscape

Gen Z’s Role in Transforming the Payments Landscape

In a Q&A with Tearsheet, Priority CEO Thomas Priore recently discussed how Gen Z’s digital payment preferences are prompting businesses to update their payment systems. The evolution in payment technologies and experiences is directly impacted by changes in consumer preferences, Tom said, and as usual, younger generations lead the way.

Members of Generation Z, born between the late 1990s and early 2010s, grew up with smartphones. They favor mobile wallets, contactless payments and peer-to-peer (P2P) payment apps for their convenience and speed.

This shift is prompting businesses to integrate digital payment solutions to meet the demands of this tech-savvy demographic. By doing so, businesses can boost sales and customer loyalty.

As Gen Z becomes the next wave of small business owners, this trend will accelerate on the business side.

See the full Q&A here.