European Consumer Payment Report 2021
Intrum’s annual European Consumer Payment Report paints a mixed picture of the economy after Covid. The crisis had a major impact on consumers’ payment behaviour.
Economic crisis leaves Irish consumers struggling says European payment report
While many say they want to ensure they are in a stronger financial position before another global crisis, a quarter have less visibility of their short-term borrowing now than they did before the pandemic.
Time to focus on greater financial literacy
Particular need for better financial literacy regarding interest rates and inflation.
Policymakers and businesses can do more to support consumers
Business actions such as innovative payment solutions can empower consumers to lift themselves out of debt
Businesses need to make sustainability a top priority
Consumer perception of businesses’ ethical credentials is becoming more important and businesses should be aware of this.
“Despite the economic rebound, many consumers will face financial challenges for many years to come. Financial literacy and planning will be key to building a stable future.”
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