76% of Consumers Own 4 or More Connected Devices

The digital landscape is dictating how consumers choose to pay, with a clear divergence emerging between tech-embracing early adopters and those content with more basic connectivity, according to a new report.

The February 2025 eBook, “How People Pay: Consumer Preference for Connected Technology,” delves into the relationship between consumers and their connected devices, identifying distinct “Tech Savvy Personas” based on their affinity for and ownership of such technology.

The report buckets respondents into Basic Tech, Mainstream Tech, and Connected Tech segments, revealing differences in their technology portfolios and, consequently, their payment behaviors. A key finding is the gradual expansion of consumers’ technology ownership over time, with more individuals moving into the category of owning four or more connected devices. This shift is attributed to the increasing ease of access to connected devices and the growing prevalence of connectivity in everyday products.

However, the study highlights that while technology adoption is growing, most consumers appear satisfied with remaining in the basic or mainstream tech categories, suggesting that the preferences of the approximately 10% of consumers identified as Connected Tech are markedly distinct.

These tech enthusiasts, who consider being connected a top priority, own a wide array of devices beyond the traditional smartphone, laptop, and smart TV, including voice-activated devices, security systems and connected cars.

This divergence in device ownership directly correlates with payment preferences, with Connected Tech consumers exhibiting a greater inclination towards digital payment methods and online shopping. The report underscores a clear trend of these advanced users moving away from physical forms of payment, embracing the convenience and seamlessness offered by mobile and contactless payment options.

Key data points from the report include:

76% of consumers now possess four or more connected devices, indicating a broad trend towards greater technological integration in daily life. This growth suggests that the definition of essential technology is expanding beyond traditional devices.

Only 10% of consumers are classified as Connected Tech consumers, highlighting the gap between early adopters who embrace a wide range of connected devices and the majority who remain in the Basic or Mainstream Tech categories. This distinct segment drives much of the innovation in digital payment adoption.

48% of Connected Tech users used a digital wallet in the last 30 days, making them 50% more likely to do so compared to owners of basic devices. This demonstrates a strong preference for digital payment methods among those with a higher ownership of connected technology.

Beyond these key findings, the report reveals other dynamics shaping consumer payment preferences. Millennials and bridge millennials are at the forefront of technology ownership, being three times more likely to be advanced users compared to baby boomers, reflecting the influence of generational exposure and purchasing power.

Conversely, low-income consumers are more inclined to stick with essential devices like smartphones and laptops, as these provide sufficient access to the digital economy, even if income constraints limit the adoption of a wider array of connected experiences.

Furthermore, while ownership of device types has remained relatively stable over the past two years for most consumers, suggesting contentment with their current range of devices, Mainstream Tech consumers are relying more on mobile devices for making purchases, indicating a growing reliance on mobile shopping across broader consumer segments.