article thumbnail

New Research Reveals Customers’ Growing Frustration with Payment and Cancellation Issues

Fintech Finance

For example, our survey reveals that: A staggering 70% would abandon a service entirely if they experienced problems with payment processing. More than 50% believe they aren’t given enough time to resolve payment issues before cancellation. What’s more, businesses might not even know they are making these mistakes.

article thumbnail

Cross-Border Payments in Numbers: Global Corporations Lost $120 Billion in Transaction Fees

Fintech Finance

However, cross-border payment issues, such as high fees, delays can prevent countries and individuals from reaping the full benefits of such money transfers,” explains Galdikienė. The post Cross-Border Payments in Numbers: Global Corporations Lost $120 Billion in Transaction Fees appeared first on FF News | Fintech Finance.

article thumbnail

1 in 3 UK and 1 in 4 US Subscription Holders Notice Unrecognised Charges, New Research Reveals

The Fintech Times

Forgotten subscriptions With subscription businesses forecasted to lose over £102billion in revenue in 2025, a new study reveals that payment issues, such as failed transactions and unexpected charges, can become a major issue for subscription businesses, causing frustration for customers and damaging retention and referrals. .

article thumbnail

Gen Z Boosts Subscription Economy, Tripling Spend from Older Generations

Fintech Finance

For instance, one in ten consumers surveyed (11%) have opted not to make a purchase or take out a subscription due to past payment issues. Unsurprisingly, Gen Z is most open to trying new payment methods for bills and subscriptions (40%), showing a strong willingness and demand for innovation.

Economy 52
article thumbnail

How AI and Real-Time Data Are Changing Merchant Payment Processing

Clearly Payments

Instant Troubleshooting: Merchants can detect and resolve payment issues in real time, reducing downtime and lost revenue. Better Forecasting: Dynamic payment data supports accurate sales predictions and smarter inventory planning.

article thumbnail

Six in 10 UK Small Businesses Say Late Payments Are Preventing Them From Reaching Their Full Potential

Fintech Finance

Seeking solutions Although the Labour government publicly pledged to crack down on late payments , many small businesses are looking at actions they could take themselves. Over half (53%) of respondents say they would charge late fees in the future to alleviate late payment issues.

article thumbnail

GoCardless Report Highlights the Domino Effect of Late Payments and Calls for Change

The Fintech Times

Over half (53 per cent) of respondents say they would charge late fees in the future to alleviate late payment issues. Meanwhile, 33 per cent would consider changing payment methods, and over a quarter (27 per cent) would automate payment processes.