A recent research study published by ECOMMPAY, an international payment service provider and direct acquirer of bank cards, on Sunday, July 31, shows that although 75% of U.K. consumers consider themselves financially savvy regarding their understanding of the impacts of using Buy Now, Pay Later (BNPL) payments, 24% still require a better understanding of such methods.
Besides that, the study highlighted that more than half of business leaders (54%) still experience several challenges in supporting online financial education for their customers and partners.
ECOMMPAY research also disclosed that 64% of consumers feel financially literate concerning opening up banking and understanding the impacts of payment options. Only 14% of consumers fully understood open banking compared to the previous year.
In terms of cryptocurrencies, the research showed that more than half of the respondents felt they were financially savvy about using crypto assets for payment. However, 46% said they do...
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