New Data: Half of Consumers Would Switch Merchants for Access to Card-Linked Installments

Innovations and Development of Card-Linked Installment Plans

Consumers are mindful of their budgets and pay later plans scratch that itch, especially those linked to their existing credit cards. In fact, more than half would switch for these plans. PYMNTS Intelligence’s latest 31-page report, “Innovations and Development of Card-Linked Installment Plans,” closing a series in collaboration with Splitit, offers seven charts that reveal where consumers, merchants and acquirers agree — and where they don’t.

Inside the August Report
  • 57% of merchants believe consumers will switch to competitors for card-linked installment options.
  • 1 in 5 acquirers think merchants are highly likely to switch to providers that allow them to offer card-linked installment plans.
  • 33% of consumers would use an installment plan linked to their general-purpose credit card for a big-ticket item.

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    Installment Plans Report

    Merchants’ Evolving Perspective on the Value of Card-Linked Pay Later Plans
    The Use of Card-Linked Installment Plans in Online and In-Store Sales
    Redefining Retail: Consumer Finance Trends Driving the Evolution of Pay Later Plans
    Divided, Not Conquered: Acquirer and Merchant Confusion Clouds Split-Payments Landscape
    Unpacking Merchant Strategies and Consumer Demand for Flexible Payment Plans
    Acquirers’ Navigation of an Uncertain Installment Plan Landscape
    Installment Plans Becoming a Key Part of Shopper’s Toolkit