A new report from transaction intelligence company Vyntra reveals that European consumers prioritise security and resilience over speed when it comes to payments. The study, titled “The Hidden Tension in Every Payment”, was launched at the Sibos conference and comes ahead of the EU’s Instant Payments Regulation (IPR) coming into force next month.
The research, which surveyed over 1,000 European adults, challenges the long-held industry assumption that speed is the primary driver of customer loyalty. The findings suggest that the next competitive edge in payments will be built on demonstrating resilience and building trust, rather than simply reducing transaction times.
Security and resilience are non-negotiable
The survey highlights a clear preference for security, with 66 per cent of consumers stating they prefer a balance between speed and security, compared to just 12 per cent who want the “fastest possible” payments at the expense of safety.
This focus on security extends to the user experience, with over half of respondents welcoming extra verification steps during the payment process, viewing them as a reassurance rather than an inconvenience.
Operational resilience was also identified as a critical factor for customer retention. The report found a near-zero tolerance for downtime, with 80 per cent of consumers saying they would switch providers after experiencing repeated outages. More than half of those surveyed said that the acceptable amount of downtime for a payment service should be less than one hour per year, or none at all.
Transparency is another key demand, with 90 per cent of consumers stating it is important for them to understand how their provider protects their money and data.
A unified approach to trust
The report’s findings suggest that while the industry and regulators are pushing for faster payments, customers are indicating that this should not come at any cost.
Joel Winteregg, chief executive officer of Vyntra, commented: “Payments are no longer judged only by speed, consumers expect seamless services, but they also demand security, resilience and transparency. Our research shows that outages and false declines don’t just cost money, they cost trust. At Sibos, we’re showing that financial institutions can no longer treat fraud prevention and operational resilience as separate issues. They must be unified to deliver the real-time trust that global finance depends on.”
Vyntra, a company formed from the merger of financial crime prevention firm NetGuardians and transaction observability company Intix, stated that the report offers a framework for banks and fintechs to align their operations with consumer expectations. By combining consumer sentiment with operational realities, the study aims to highlight the risks for providers who fail to build trust and the opportunities for those who succeed.
