CEO Point of View 2023: Turning Europe's payments crisis into customer trust

Statistics from 20,000 consumers show that European consumers are strained by ongoing inflation and rising borrowing costs. Our President and CEO, Andrés Rubio, comments on the fresh results. The POV was released in September 2023, serving as a precursor to the full ECPR 2023, set to be published in November.

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Consumers struggling with rising costs

Over a third of consumers have missed at least one bill payment in the past year, the highest proportion since 2019. With inflation and high borrowing costs, many households are feeling the pinch and struggling to keep up with their financial obligations.

Erosion of guilt over missed payments

Almost one in three consumers now feel less guilty about missing bill payments compared to previous years. This shift in attitude reflects growing frustration and a sense of helplessness in the face of economic challenges.

Demand for ethical business practices

Consumers are increasingly alert to businesses exploiting their financial struggles, particularly through practices like 'greedflation.' Nearly 71% would stop spending with companies perceived as taking advantage of their customers, indicating a clear demand for transparency and fairness.

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Other editions of the report:

White Paper 2024: Striving for a brighter future

Published in March 2024, new data indicate a positive development since the 2023 ECPR findings, as some consumers feel that their household finances are improving. Many do, however, remain extremely worried about how they will make ends meet.

European Consumer Payment Report 2023

The European Consumer Payment Report 2023 provides an in-depth analysis of the financial challenges faced by consumers amidst an ongoing economic downturn. With insights drawn from 20,000 respondents across Europe, this report highlights critical shifts in consumer attitudes towards payment behaviours and the increasing need for improved financial literacy.

European Consumer Payment Report 2022

The European Consumer Payment Report 2022 reveals a concerning decline in consumer confidence as inflation and rising interest rates create widespread anxiety regarding financial stability. This report highlights the challenges faced by households, the impact of the ongoing cost-of-living crisis, and the urgent need for improved financial literacy.

European Consumer Payment Report 2021

The European Consumer Payment Report 2021 examines the financial realities of consumers following the disruption caused by the Covid-19 pandemic. The report reveals how rising inflation and evolving consumer behaviours are shaping financial wellbeing across Europe, highlighting the urgent need for improved financial education and sustainability practices among businesses.

European Consumer Payment Report 2020

The European Consumer Payment Report 2020 delves into the financial challenges faced by consumers amid the Covid-19 pandemic. This report highlights the significant impacts on household income, the increasing reliance on borrowing, and the growing need for financial literacy as consumers navigate an uncertain economic landscape.

White Paper 202: Covid-19 Special Edition

This White Paper, released in May 2020, comes as an additional publication to the European Payment Report 2020. The insights are based on data from 9,980 companies across 29 European countries and delves into how the Covid-19 pandemic has dramatically impacted the European payments landscape.

European Consumer Payment Report 2019

The European Consumer Payment Report 2019 highlights the growing financial stress among consumers as rising bills outpace incomes across Europe. This report examines the increasing reliance on borrowing, the need for improved financial literacy, and the urgent call for consumers to navigate their financial wellbeing amidst economic uncertainty.

European Consumer Payment Report 2018

The European Consumer Payment Report 2018 reveals the financial realities faced by 24,000 consumers across Europe. While many have experienced improved financial situations amidst rising economic confidence, significant numbers continue to struggle with tight budgets and increasing debt levels. This report sheds light on the duality of the European economic landscape and highlights the urgent need for enhanced financial education.

European Consumer Payment Report 2017

The European Consumer Payment Report 2017 examines the financial behaviours and attitudes of over 24,000 consumers across Europe. With a noticeable shift towards digital consumption and increased social pressure to spend, this report highlights the challenges faced by consumers in managing their finances and the importance of financial education.

European Consumer Payment Report 2016

The European Consumer Payment Report 2016 explores the financial behaviours and attitudes of over 21,000 consumers across Europe. As economic uncertainty and consumer debt levels rise, this report highlights the challenges of managing household finances and the pressing need for financial education to empower consumers.

European Consumer Payment Report 2015

The European Consumer Payment Report 2015 provides insights into the financial behaviours and challenges faced by over 22,400 consumers across Europe. As economic conditions fluctuate, this report highlights the pressing need for financial education and the impact of social pressures on spending habits.

European Consumer Payment Report 2014

The European Consumer Payment Report 2014 explores the slow recovery from the economic crisis affecting millions of consumers across Europe. With over 21,000 respondents surveyed, this report highlights the lack of confidence in financial recovery, rising consumer debt, and the urgent need for effective financial education.

European Consumer Payment Report 2013

The European Consumer Payment Report 2013 examines the financial challenges faced by over 10,000 consumers across Europe amidst ongoing economic instability. This report reveals declining consumer confidence, the impact of rising costs, and the critical need for improved financial literacy to help consumers navigate their economic realities.

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