Installment or split-payment plans like buy now, pay later (BNPL) enable consumers to align their spending and credit management strategies. PYMNTS Intelligence’s data analysis reveals that 3 in 5 shoppers used installment plans for consumer product purchases in the past year. This use spans all...
Consumers have developed an appetite for split-payment plans of all sorts. Also known as installment payment plans, these break up purchases into smaller, scheduled payments over time. Though the concept is simple, data reveals a gap between merchants’ perceptions of split-payment plans and their actual...
Installment plans have become an increasingly important payment method that many shoppers prefer. Across age groups and income brackets, 60% of consumers use installment plans at least occasionally. The highest rates are among younger generations and high-income earners. Merchants can maximize their competitiveness by offering...
A deep disconnect exists between holistic bill payment solutions providers and billers on the value a holistic billing platform can offer. Providers tout the benefits of an improved customer experience, while billers express concern about the difficulty of integration or that it would not really...
Inflation may be on a downward trajectory, but consumers do not think so, as perception affects their spending behaviors, prompting them to rethink how they use cash, debit and credit cards. PYMNTS’ latest research sheds light on the impact of inflationary trends on United States...
PYMNTS’ research finds that 83% of consumers made payments for credit products in the last 90 days. Credit, in general, is a significant part of life for most consumers across generations. Overall, credit use is lower among Generation Z consumers. But PYMNTS’ data shows that...
In recent years, friction in the payments process has remained despite attempts to make payments as seamless as possible. Most consumers would rather not reenter payment card information each time they make an online purchase or when they replace a lost or stolen card. Credentials...
PYMNTS’ latest research shows that most bill-paying consumers in the United States face challenges in the bill payment process. In the last 90 days, more than half faced at least one pain point, such as a lack of payment options or security concerns. “The One-Stop...
As the inflationary vice tightens, more Americans are making partial bill payments or skipping some months altogether. This was among the findings in “The One-Stop Bill Pay Playbook,” a PYMNTS and Mastercard collaboration based on survey findings from 2,140 U.S. consumers, which examined how cash-strapped...
