Payment providers had the impression their clients demanded real-time payments more so than lower payment processing costs or cross-border payments. This is according to a survey held in the early months of 2022, asking banks and fintech companies on how they ranked the demand within their client base. More than half of the respondents ranked the access to real-time or intraday liquidity management as either the greatest or second-greatest pain point among their clients. This was followed closely by the cost of payment processing. Cross-border efficiency ranked less high, with roughly 28 percent of respondents ranking this in the top two of priorities to work on.
Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022
banks - global, regional, and local - as well as fintech/payment services providers; Senior manager level in business and operations areas up to C-level executives
Supplementary notes
The source does not provide any information on the type of survey conducted.
This question was phrased by the source as follows: "What are the biggest pain points your hear about from your customers?"
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Volante. (October 21, 2022). Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022 [Graph]. In Statista. Retrieved November 01, 2024, from https://www.statista.com/statistics/1386603/payments-issues-from-clients-according-to-providers/
Volante. "Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022." Chart. October 21, 2022. Statista. Accessed November 01, 2024. https://www.statista.com/statistics/1386603/payments-issues-from-clients-according-to-providers/
Volante. (2022). Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022. Statista. Statista Inc.. Accessed: November 01, 2024. https://www.statista.com/statistics/1386603/payments-issues-from-clients-according-to-providers/
Volante. "Key Demands for Payments as Communicated by Client Bases and Banks and Payment Service Providers Feel They Must Meet in 2022." Statista, Statista Inc., 21 Oct 2022, https://www.statista.com/statistics/1386603/payments-issues-from-clients-according-to-providers/
Volante, Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022 Statista, https://www.statista.com/statistics/1386603/payments-issues-from-clients-according-to-providers/ (last visited November 01, 2024)
Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022 [Graph], Volante, October 21, 2022. [Online]. Available: https://www.statista.com/statistics/1386603/payments-issues-from-clients-according-to-providers/
