The rising inflation around the world is inevitably affecting the cost of living of countless people. Forcing many to modify the way they budget and shop.

Research commissioned by Paysafe has revealed 44% of respondents has modified their payment habits.

Most of these changes are mainly focused on payment habits, more specifically, implementing methods that help track spending in the household. 44% have changed their payment habits, 40% are looking -and shifting- to methods that allows them to track their expenditure, and 21% are avoiding credit. Of those that have shifted to other payment methods, 53% are making use of their debit cards more often than in previous years. We are seeing this shift in countries in which credit is still the number one payment method.

As far as payment methods go, there are some countries that are using credit more frequently – this is true for the DACH region, where 39% of German and 46% of Austrian respondents have revealed they are using it more often.

Digital wallets have seen a big shift in popularity due to their money management features. 41% of respondents , in fact, admitted they are using it more than they did only a year ago.

While payment methods have seen a drastic shift to electronic, tap-to-pay, and contactless, there is one payment method that has seen a renewed popularity.