Grantit Releases a Buyer Payment Conduct Research by Nielsen

Around 60% take into consideration Instalment Services devoid of utilizing Credit history Card

HONG KONG, July 20, 2021 /PRNewswire/ — With the emergence of diversified payment methods, there is a shift in quite a few Hong Kong citizens’ consumption routines and styles. Grantit, a Fintech startup featuring personalized financing companies, has commissioned Nielsen IQ to engage 310 Hong Kong residents aged in between 18 and 35 to undertake an online survey in March, 2021 to examine and analyse the locals’ usage and curiosity in instalment plans whilst paying for various groups of items and expert services.

Practically 60% deemed order by instalment without having a credit history card

In the Nielsen research, 45% of respondents experienced experience of acquiring by instalment in common methods. The expectation of a new payment process, the “instalment purchase with out credit rating playing cards”, was investigated in the investigate. The results exposed that 59% of respondents would take into consideration the new payment and obtain some thing which was not on their typical purchasing list if the new payment plan was readily available, with their top picks being digital devices and residence appliances.

Centered on the consumers’ reaction, Ms. Lina Sio, CEO of Grantit claimed, “We are fully commited to offer a good and strain-cost-free alternative that caters the demands of area citizens, enabling them to have a increased variety of requirements to pick from, bettering their dwelling conventional whilst sustaining a stabilised and nutritious monetary affliction.”

62% of respondents are involved about credit history checks when signing up a new payment support

Credit history examine is a key issue that hinders neighborhood customers in applying for a new payment assistance. According to the results, 62% of the respondents are distressed by checking their credit stories when signing up.

“From the analyze, we can tell that shoppers are worried about credit checks by the monetary institutes. Whilst your credit rating rating is crucial to your prolonged-time period money program these kinds of as getting a mortgage, it is not a great strategy to have an effect on it with your brief-expression expenditures which are also a requirement that you want to get.” Lina suggested.

Smart financial administration helps in rational shelling out

The analysis indicated that about 50% of the respondents located the major problem when applying instalment payment solutions was the probable of overspending. “We would like to be a personalised adviser for our shoppers and assess their money stream and regulate it to be extra stabilised,” Lina explained, “There are various tractions of instalment providers and answers such as Buy Now Spend Later on. Nonetheless, from the examine, we can see that a anxiety-absolutely free alternative for high quality of lifetime would be an space that we can tap in. We feel a new consumer encounter and engineering can improve people’s life and aid deal with their concerns.”

About Grantit

Grantit is a Fintech start-up which offers dependable assistance for several with the most good and stress-cost-free particular financing goods to navigate their everyday lives. As an built-in system that encompasses agility, shopper-centric procedures and a knowledge-driven way of thinking, we deliver bespoke own financing products to help a lot of to live a economically stress-free of charge daily life.

For more information, visit grantit.io.

Source Grantit