Missed Payments Go Beyond Customer Intent, Finds Trust Payments Research
Trust Payments research finds payment choice and communication issues can add to repayment friction as 4.5 million UK adults face financial difficulty
LONDON, UK, 22 September 2026: New research from leading fintech innovator across the UK and EU Trust Payments, has found that missed payments in the consumer credit and collections sector are not solely a question of customer willingness, with industry professionals also pointing to administrative errors, limited payment options and communication failures as contributing factors.
The findings come as millions of UK consumers continue to experience difficulty meeting their financial commitments. According to the Financial Conduct Authority's Financial Lives 2024 survey, 4.5 million UK adults, equivalent to 8% of the adult population, were in financial difficulty, having missed domestic bills or credit commitments in three or more of the previous six months.
Trust Payments surveyed more than 100 delegates at Credit Connect's Technology Think Tank in May 2026 to understand the payment challenges consumer credit and collections professionals are seeing on the ground.
While intentional delays were the most cited reason respondents hear for customers missing payments, at 47.3%, administrative errors ranked second at 25.5%. Respondents also pointed to cash flow shortages (8.5%), lost or unreceived invoices (6.8%), a lack of available payment methods (6.8%) and customers not understanding how to pay (1.7%).
The findings suggest that alongside affordability and customer circumstances, elements of the repayment journey itself can create additional friction for customers.
The research also identified a significant gap around recurring payments. More than three quarters (76.5%) of respondents said fewer than a quarter of their customers understand how to set up recurring payments. No respondents said that between 75% and 100% of their customers understand the process.
For consumer credit and collections firms, the findings highlight an opportunity to make repayment processes clearer and easier to navigate, particularly for customers who may already be experiencing financial pressure.
Payment choice also emerged as an important consideration. When asked what payment options for their customers are looking for, respondents ranked Pay by Link highest at 35.7%, closely followed by bank transfer at 34%. Credit and debit cards accounted for 17%, while mobile wallets and PayPal stood at 6.5% and 5.1%, respectively.
Ryan Orton, Consumer Credit Specialist at Trust Payments, said: "With millions of people experiencing financial difficulty, consumer credit firms rightly focus on affordability and individual customer circumstances when payments are missed. Those issues are critical, but our research suggests they are not the whole picture. Administrative errors, limited payment options and communication issues can create additional friction in the repayment journey.”
He added: “Firms should be looking at where those barriers exist and whether the payment experience is making it as straightforward as possible for customers to meet their commitments. That becomes particularly important when more than three quarters of the professionals we surveyed say fewer than a quarter of their customers understand how to set up recurring payments. Clear communication, appropriate payment choice and straightforward payment journeys can help remove avoidable barriers for customers while reducing unnecessary administration for businesses."
To learn more about how Trust Payments is helping consumer credit businesses simplify payments and reduce friction across the repayment journey, visit: https://www.trustpayments.com/
For all media enquiries, please contact: TrustPayments@skyparlour.com
About Trust Payments:
Trust Payments is a leader in fintech powering truly innovative customer commerce solutions across the UK & EU. We provide on-demand payments and commerce services to help businesses grow and scale online, in-store and on mobile.
Our focus is driving value for our clients through personalised services and innovative products that transform shopper experiences and are backed by secure and frictionless payments.
Small, medium and large enterprises benefit from our expertise that spans a quarter of a century. Trust Payments has a global footprint, with over 400 people across 9 offices supporting the most demanding business sectors including retail, travel, hospitality, forex and financial services amongst others.
Our offerings incorporate several point-of-sale offerings from card terminals to full checkout tills, inventory management software, and mobile-first loyalty schemes. Our card acceptance is powered by an acquiring network of over 50 global banks. We hold Visa and Mastercard Principal Memberships and are also partnered with JCB and Discover Global Network in the UK & EU for cross-border business. We are licenced by both the UK Financial Conduct Authority and the Malta Financial Services Authority.
Find out more at www.trustpayments.com.
