Grantit, Nielsen release study regarding the interest of Hong Kong-based consumers in instalment plans

Friday 23 July 2021 14:33 CET | News

Grantit, a fintech startup offering personal financing services, has released together with Nielsen a study regarding the usage and interest in instalment plans amond Hong Kong-based consumers.

According to the press release, the study engaged 310 Hong Kong-based residents aged between 18 and 35 to undertake an online survey in March 2021. The research revealed that 45% of respondents had experience of purchasing by instalment in conventional ways. 

Moreover, the expectation of a new payment method, the 'instalment purchase without credit cards', was also investigated in the research. The findings revealed that 59% of respondents would consider the new payment and purchase something which was not on their usual shopping list if the new payment plan was available, with their top picks being electronic gadgets and household appliances. 

However, credit check is a major concern that hinders local consumers in applying for a new payment service. According to the findings, 62% of the respondents are distressed by checking their credit reports when signing up. Besides, 50% of the respondents found the biggest concern when using instalment payment methods was the potential of overspending.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: instalment payments, research, study, online payments
Categories: Payments & Commerce | Online Payments
Countries: Hong Kong
This article is part of category

Payments & Commerce