Philadelphia, Pennsylvania, May 28, 2025 (GLOBE NEWSWIRE) -- FreedomPay, a leader in Next Level Commerce™ technologies, and Verifone, the global payments leader for the world’s best-known merchants, financial institutions, and fintechs, today announced a new study conducted in partnership with Retail Dive's studioID. The research reveals a significant disconnect between how retailers perceive their payment experiences and what consumers actually encounter. The findings highlight critical blind spots in payment options, checkout processes, and customer data collection that could lead to missed revenue opportunities and diminished shopper loyalty.
The study, titled 'Data Says Retailer Perceptions and Consumer Experiences Don’t Align,' surveyed 150 retailers and 1,000 consumers to explore the disconnect between retailer perceptions and consumer realities, offering actionable insights for improvement.
"The future of payments is about getting the solution right—not just in how payments are routed, but also in how terminals are serviced to enhance the shopping experience," said Tim Aden, Executive Vice President of Global Partners at Verifone. "Creating a seamless, secure, and reliable payment process that meets the evolving needs of retailers and consumers elevates the entire shopping experience."
Key findings include:
- Retailer Overconfidence: A significant majority of retailers (86%) believe their payment experiences are better than their competitors', yet consumer data suggests otherwise.
- Missed Payment Preferences: 70% of consumers say the availability of their preferred payment options influences where they shop, yet many retailers are not offering the payment methods consumers want, including mobile wallets and Buy Now, Pay Later (BNPL).
- Checkout Frustrations: Long checkout lines, slow service, and technical issues continue to plague the customer experience, with 75% of consumers saying their preferred checkout experience impacts where they shop.
- Data Collection Gaps: Retailers are missing opportunities to connect with consumers by not capturing and leveraging valuable customer data.
"This report is a wake-up call for retailers," said Chris Kronenthal, President of FreedomPay. "The data reveals a clear gap between perception and reality when it comes to payment experiences. By addressing these blind spots and embracing innovative payment technologies, retailers can not only close this gap but also drive significant revenue growth and foster deeper customer loyalty."
By partnering with FreedomPay and Verifone, retailers can gain access to cutting-edge payment technology, data-driven insights, and expert support to optimize their payment infrastructure and stay ahead of the competition.
Download the full report: Download Here
About FreedomPay
FreedomPay’s Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge and enables merchants to unleash the power of pay. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce.
The company maintains a world-class security environment and was one of the first payment solution providers in North America to be validated by the PCI Security Standards Council. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. Learn more at www.freedompay.com.
About Verifone
Verifone is a leading global payments technology provider trusted by the world’s top brands. Verifone powers the boundless payments grid—enabling distinctive commerce experiences for merchants, fintech companies, and financial institutions wherever commerce happens. By combining a flexible platform, an open ecosystem of 2,500+ integrations, and four decades of payments expertise, Verifone eliminates payment complexity and expands what’s possible across every payment channel. Each year, Verifone processes $8 trillion in transaction value across 165+ countries around the world helping businesses of all sizes to grow without limits. Learn more at www.verifone.com.
Jennifer Tayebi Burson for FreedomPay +1 734 395 0780 jennifer.tayebi@bursonglobal.com
