Bank of America’s 67 million consumer clients made $335 billion in total payments in January, up 17% from January 2021 and the second-highest month of spending on record, according to a Monday (Feb. 7) press release. BofA consumers made a record $3.8 trillion in payments...
Instant disbursements were on the rise in 2021, with nearly three times as many consumers receiving an instant disbursement last year compared to 2020, while 17% of consumers received at least one instant disbursement. Instant disbursements could overtake Automated Clearing House (ACH) payments as the most popular disbursement...
Real-time home loan disbursements are of little use if the estimate and approval processes surrounding them are still stuck in manual. In the Expanding Payments Choice Playbook, Better Mortgage’s Ziggy Jonsson explains why digitizing and automating the entire application process is key to instant loan...
Nowhere is the digitization of disbursements more important than payroll. Businesses can also reap benefits in terms of efficiency and reliability with digital, cloud-based payroll systems. In a competitive talent acquisition market, having a reliable payroll system can help with recruitment, and it also plays...
COVID-19 has ushered in an age of cancellations, with waves of conferences, concerts and vacations being put on hold. So, how do you keep those customers coming back when travel and public events are safer? Make it easy for them to leave. As PYMNTS’ research...
In a report released Wednesday (Dec. 22), the Federal Reserve said that payment behavior saw a massive, pandemic-driven shift in 2020. As in-person commerce dwindled, in-person card payments also fell. As a result, there were around 11.7 billion fewer payments made, which is the first...
The pressures are mounting for paycheck-to-paycheck consumers as pandemic-era pauses on some of the most significant monthly obligations are expiring. The resumption of student loan and mortgage payments comes just as inflation takes root in a way not seen in decades. As noted in these...
With mortgage protections winding down and the federal eviction moratorium no longer in place, a “substantial” number of people are missing housing payments, according to the Mortgage Bankers Association. As The Ascent reported Monday (Dec. 20), the Association says that 5.43 million households missed mortgage...
J.P. Morgan Chase & Co. set a new daily record for processing card payments during last month’s Cyber Weekend, one sign that shoppers are willing to spend a little bit more this holiday season than they might have planned, even as the COVID-19 pandemic continues...
