Using consumer research data, PayNearMe answers the tough questions operators have about optimizing their payments stack to increase acceptance and lower costs.
Demand for consumer credit is still on the rise, despite recent years of escalating inflation and recession rumors. And as interest rates may start easing downward, competition among lenders will heat up. Banks, credit unions and consumer lenders are all vying for a piece of the consumer credit pie, estimated to top $24 billion by 2032.
Today’s consumers are challenged to manage cash flow amid inflation and rising debt. Keeping up with loans is a key part of that, and it’s often made more difficult with inflexible legacy payment processes. Our latest consumer research found that over half (51%) of borrowers say managing and paying loans causes them anxiety, and 60% wish that process was easier.
Consumer choices are now heavily influenced by the desire for seamless, personalized digital experiences. To get it right—and stand out—brands need to be more than ‘customer-first’, they need to be data-first.
With so much market share opportunity on the table, it’s mission critical for operators to optimize every aspect of the bettor experience – particularly payments.