PayNearMe Research
Consumer Trends Driving the Future of Loan Payments
Learn how consumer payment preferences for alternative payment methods continue to increase, while hyper-personalized experiences are becoming a more commonplace expectation.
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Delivering a personalized, convenient loan payment experience is critical for customer retention.
The research revealed that 82% of survey respondents would work with a different lender in the future if they had a poor loan repayment experience.
Conversely, 79% said an exceptional experience would incentivize them to work with the same lender again in the future.
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About This Research
PayNearMe conducted an online survey of more than 1,500 consumers in March 2024 to determine changing attitudes toward payment types, and to understand how important hyper-personalized interactions are when it comes to their relationship with their lenders.
The survey aimed to uncover:
- What makes paying loans difficult for consumers
- What payment methods consumers would prefer to make their loan payments
- If paying loans and payment preferences changed—for better or worse—for consumers from our 2021 survey
