According to a survey of more than 1,600 US consumers of the GasBuddy fuel app, 51% of respondents use debit cards as their primary method of purchasing fuel. Although 91% of respondents have at least one credit card, many respondents (36%) have up to three to four credit cards. only 37% of participants use credit cards as their primary means of paying for fuel.
No preference (5%) was found to be more popular than cash (4%) or mobile payments (3%). For the 37% who use credit cards as their primary form of fuel payment, cash back is the number one reason for using credit rather than debit.
The results indicate that the top three reasons respondents use debit cards for fuel payments are that debit cards are easy to use, that they get a discount on the price of credit for fuel. with the debit card and “this is exactly what I’m used to”.
When asked what would persuade them to switch from their current payment method to another payment method for fuel, respondents most often cited cash back or better cash rewards, followed by a payment method without interest rate or fees, a secure method payment without risk of theft and a gas payment method without credit check. The answers were the same for those who primarily use debit and credit to pay for gasoline.
To add context to this information, the nearly 600,000 members of GasBuddy’s fuel payment program, Pay with GasBuddy, fill an average of 4.5 per month, with the average fuel purchase being over $ 30. per transaction. Americans collectively spend nearly $ 1 billion on gasoline per day, according to GasBuddy.