A recent report from PYMNTS Intelligence, produced in collaboration with Splitit, reveals that **61%** of U.S. consumers are willing to accept AI-assisted Pay Later experiences, but only if they align with certain key principles. These consumers want experiences that prioritize control, protect their credit scores, and work seamlessly with the credit they already have.
The PYMNTS Intelligence report highlights a fundamental shift in consumer expectations around Pay Later services. Gone are the days of relying solely on manual credit checks and tedious application processes. Instead, consumers are embracing AI-driven recommendations that streamline the shopping experience while maintaining their autonomy.
AI-Assisted Pay Later: Who’s Calling the Shots?
Consumers are clear about what they want from AI-assisted Pay Later experiences: control. They don’t want AI algorithms dictating payment terms or credit limits without their input. Instead, they want to be able to choose from a range of payment options that are tailored to their individual financial situations. This sentiment is echoed by 61% of survey respondents, who cited the importance of preserving control over their financial decisions.
In addition to maintaining control, consumers also want AI-assisted Pay Later experiences that protect their credit scores. A 58% majority of respondents highlighted the importance of credit score protection, suggesting that consumers are increasingly wary of any Pay Later service that could potentially damage their credit reputations.
What this means
For businesses offering Pay Later services, the PYMNTS Intelligence report serves as a timely reminder of the importance of prioritizing consumer-centric design. By building AI-assisted Pay Later experiences that respect consumers’ boundaries and preferences, businesses can establish themselves as trusted partners in the financial ecosystem. Ultimately, this means creating experiences that are both convenient and transparent – two qualities that are increasingly essential for winning over discerning consumers.
