Payment cadence over crypto jargon: Frequency wins loyalty

Speed and frequency are becoming more important to your customers than the specific technology behind a payment. New research shows that consumers aren't looking for complex digital assets like cryptocurrency for their own sake. Instead, they care about how fast they can access their funds. For retailers, this shift is critical because payment 'cadence'—how quickly a transaction clears or how fast a refund reaches a customer—is now a major driver of brand loyalty. If you offer financing or flexible payment options, the 'last mile' of the transaction is what keeps customers coming back. Shoppers are increasingly frustrated by the traditional 3-to-5 business day wait for settlements or returns. As banks and fintechs adopt faster payment rails, your ability to provide instant payouts or immediate credit availability will be a competitive advantage. The data suggests that customers will choose the provider that gets them their money the fastest, regardless of whether that transaction is backed by traditional banking or newer blockchain tech. Focus your payment strategy on reducing friction and wait times to capture this demand.

Source: American Banker — Top News

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