The news: Payment brand marketing teams should be targeting “zillennials,” per PYMNTS Intelligence

• Zillennials is a 39.3 million-person cohort straddling Gen Z and millennials who were born between 1991 and 1999.
• By 2030, zillennials will represent 13.6% of the population and 14.5% of consumer spending, making them an important segment to target.

What sets them apart: This group is more dependent on mobile devices and apps than elder millennials but are also further along in their financial lives than younger Gen Zers. This makes them perfect prospects for payment brands like digital wallets to focus on cultivating relationships that can grow over time.

Zillennials are also financially conscious.

• 45% of zillennials are budget-minded, per a PYMNTS Intelligence survey.
• And only 16% are considered splurge spenders.

The takeaway: Tracking zillennial behavior can give marketers insight into how younger consumers are using digital tools to navigate their financial lives.

It also shows how growing up with smartphones and apps has influenced payment behaviors, which can offer insights into how younger consumers may behave as they get further along in their financial lives.