By the Numbers: The Best of PYMNTS Intelligence Nov. 13

1. Shocks Hit Unevenly

The Financial Shock Report finds that among consumers who faced an unexpected expense of $400 or more, 40% of those living paycheck to paycheck and struggling to pay bills fell behind after their largest shock. Just 4% of those not living paycheck to paycheck fell behind. The tenfold gap shows how differently an unexpected bill can land.

2. Credit Access Climbs

In September, 53% of small to mid-sized businesses (SMBs) could access a loan or credit card if needed, the highest share across 20 study editions dating back to April 2024. The SMB Growth Monitor shows that access still varies by size: 46% of businesses with annual revenues of up to $150,000 had credit available, compared with 58% of those generating $1 million to $10 million.

3. AI Gets Limits

Consumers are more comfortable letting AI agents scout credit offers than submit applications. The Agentic Credit Report, a collaboration with Thredd, finds that 63% of consumers would let an AI agent compare offers across lenders, while 49% would let one complete and submit an application, even with their final approval. The findings suggest comparison tools have a broader potential audience than application services.

4. Consumers Continue to Prioritize Valued Activities

Eighty-one percent of experience enthusiasts would keep spending on their favorite activities even after losing one-quarter of their household income for six months. The Experience Economy, a collaboration with Paysafe, finds that most would reduce spending amounts or frequency rather than stop altogether, showing how strongly consumers protect the activities they value.

5. Wallets Favor One

Worth Knowing: Digital Wallets shows that 54% of digital wallet users save just one payment method in their wallet. For banks and card issuers, getting a credential stored can secure a valuable position in consumers’ payment routines. But storage alone doesn’t establish spending frequency or guarantee that the card will become a consumer’s favorite.

6. Borrowing Serves Different Needs

Among SMB borrowers generating annual revenues of up to $150,000, 48% use credit mainly to cover expenses they otherwise could not pay, while 33% use it primarily to manage or grow the business. Among borrowers generating $1 million to $10 million, those shares are 20% and 55%, respectively. The SMB Growth Monitor finds that business size shapes what borrowers need from financing.

7. Recovery Takes Time

In The Financial Shock Report, one-quarter of consumers who faced an unexpected expense of $400 or more remained financially worse off after their largest shock: 22% were still struggling and 3% said they were permanently worse off. Among those living paycheck to paycheck and struggling with bills, the combined share reached 53%. Paying an expense does not always end its financial effects.

8. AI Must Explain

Seventy-nine percent of consumers surveyed for The Agentic Credit Report say it is very important or essential for an AI credit agent to explain, in plain language, why it chose a particular offer or action. That includes 44% who consider an explanation essential and would not proceed without one. Clear explanations are a condition of adoption for a substantial share of consumers.

9. Checkout Costs Loyalty

Among experience enthusiasts who abandoned a purchase, 64% say they would move the seller down their list or stop using it altogether. The Experience Economy finds that the most common individual reason for abandonment, cited by 28%, was surprise fees or a currency charge on the final screen. A failed checkout can put the next sale at risk, too.

10. Gen Z Taps In

One-third of Gen Z shoppers used a mobile wallet in stores during the previous seven days, compared with 25% of millennials and 5% of baby boomers and seniors. The generational gap shown in Worth Knowing: Digital Wallets gives merchants and payment providers a clear reason to accommodate mobile wallets while recognizing that payment habits remain far from uniform.