When a payment process becomes too cumbersome, consumers do not simply wait; they abandon the transaction. Thirty-six percent of surveyed individuals admit to delaying payments specifically due to process complexity. Once that friction occurs, 45% of these instances evolve into missed deadlines, with 71% of affected consumers repeating this failure on multiple occasions.
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Payment Complexity Is Driving Missed Deadlines for US Consumers
Sixty-seven percent of U.S. consumers expect to complete a bill payment in three steps or fewer, a threshold that, when breached, triggers a sharp rise in missed deadlines. New research from Datos Insights and SBT highlights that complex payment journeys are actively sidelining willing payers in favor of simpler alternatives.
SBT CEO David Baxter argues that every additional login or account lookup serves as an invitation for a consumer to walk away. This dynamic creates a new competitive landscape where payment experience acts as the primary tiebreaker. When faced with identical financial obligations, consumers are twice as likely to prioritize a creditor that allows payment via a simple text reply over one requiring a formal website login. Data shows that text-based reminders consistently outperform email in driving same-day payments across student loans, auto loans, and credit card debt.
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