Velera’s 2026 Eye on Payments Study Examines Consumer Preferences as Technology, Payments and Trust Evolve

Velera, the nation's premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, today announced the release of its ninth annual Eye on Payments study. The 2026 report examines how economic pressures and rapid digital innovation have reshaped consumer payment preferences and behaviors over the past year.

Challenging traditional perceptions, the study showed that credit union members are actively embracing digital tools, including artificial intelligence (AI). Nearly half (49%) of credit union member respondents reported using AI at least a few times per week, with three-quarters reporting at least one financial use. At the same time, members remain measured in their adoption of less established technologies, such as digital assets, indicating a selective approach to emerging financial use cases.

The 2026 report also shows that consumers are prioritizing control and flexibility in how they pay. While debit remains the top preferred payment method among credit union members (47%), they are continuing to tailor their payment choices to specific spending needs. Rather than relying on any one payment method, consumers are actively choosing among physical cards, digital wallets, cash and BNPL options depending on the situation, suggesting that having the right payment tool at the right moment is more important than using the same method every time.

Digital wallets have become an everyday payment tool, with weekly usage among credit union members nearly quadrupling from 11% in 2022 to 42% in 2026. For the first time, debit has surpassed credit as the most commonly loaded card type, reflecting members' broader preference for spending control. Yet convenience alone does not guarantee top-of-wallet status: Consumers intentionally manage card selection within their digital wallets to maximize benefits and control spending, reinforcing the importance of delivering ongoing value at the point of purchase.

As fraud becomes increasingly complex and AI-enabled, the way a financial institution responds can be just as important as preventing an incident itself. While one-quarter of credit union members experienced fraud in the past year, more than half (52%) said the experience increased their trust in their financial institution, and 77% were satisfied or very satisfied with its response. Together, these findings underscore the important role communication, support and resolution play in strengthening member relationships.

"Consumers have more financial tools and payment options than ever before, yet our research suggests they're becoming more intentional, not less, in how they use them," said Velera Chief Marketing & Communications Officer Tom Pierce. "Whether they're using AI, digital wallets, debit, credit, BNPL, P2P or emerging payment options, adoption is increasingly driven by a simple question: Does this help me manage my money more effectively? The credit unions that answer that question best will be the ones that earn trust and engagement over the long term."

Other key findings from the study include:

• Nearly six in 10 (59%) credit union members agree they would be uncomfortable allowing AI tools to make purchases or transactions on their behalf, up from 49% in 2025. This suggests that while AI adoption is growing, trust in AI-driven transactions remains limited.
• One-quarter (25%) of consumers hold or have held cryptocurrency, while 19% hold or have held stablecoins. Among non-users, unfamiliarity is the leading barrier: 40% say they do not know how to use cryptocurrency, and 61% do not know what stablecoins are or how to use them.
• More than half (52%) of credit union members say a card's physical appearance influences which card they use, up from 39% in 2023.
• Eighty-five percent (85%) of credit union members report having a contactless credit or debit card, and 58% use it at least a few times per week, up from 48% in 2025.

In addition to unpacking these findings in greater depth, the study analyzes each generation, from Generation Z to Baby Boomers, to understand how and why their payment preferences differ. It also leverages data to debunk common myths in the industry, such as the idea that branches are no longer important to the member experience. To conclude, Velera provides key takeaways and actionable recommendations to help credit unions better serve their members.

Velera surveyed 1,750 credit union members and non-members from across the U.S. The online survey, conducted in July and August 2026, was taken by participants ages 18 to 65+. Of those surveyed, 52% were male and 48% were female, and demographic characteristics align with consumer data from America's Credit Unions Member Profile. Generations were defined as: Generation Z (Gen Z), ages 18-29; Younger Millennials, ages 30-37; Older Millennials, ages 38-45; Generation X, ages 46-61; Baby Boomers (Boomers+), ages 62 and above.