The number of registered mobile money accounts grew 13% in 2020 to 1.2 billion accounts worldwide — double the expected growth for that period. The number of active accounts rose as well, with consumers using their accounts more frequently and for new and more advanced...
Banking customers are increasingly coming to expect better money mobility solutions from their financial institutions, such as early access to direct deposits and fee-free overdraft protections. In the Money Mobility Tracker, Current’s Josh Stephens discusses how neobanks have driven those expectations, as well as the...
Even for the significant number of consumers who still prefer opening accounts with traditional financial institutions (FIs), most new accounts opened by consumers are via digital channels. At the same time, those consumers frequently link new accounts — whether they be digital wallets, peer-to-peer (P2P)...
Cash flow had become a significant problem for businesses since the pandemic began. Of the approximately $1.2 trillion in outstanding receivables that small- to medium-sized businesses (SMBs) in the United States obtain each year via ad hoc payments, PYMNTS’ research indicates that 30% are paid late....
Speed is of the essence for large-value transactions, and so is the ability to send those payments across any payments rail. In this month’s Disbursements Tracker, KeyBank’s Megan Kakani explains why allowing payors to pay anyone, anywhere — and using a payments method of their...
As the pandemic has sped up the transition for both consumers and businesses to conduct more and more transactions in digital spaces, the use of checks has become less desirable. The number of digital payment rails available has exploded in recent years, and payees have...
eSports company Unified has formed a partnership with the payments service Tipalti to handle payments to players in Unified tournaments. The companies announced the collaboration in a news release Friday (Feb. 4), saying the solution benefits both parties and will streamline the turnaround time for...
Almost one out of every five disbursements (17%) U.S. consumers received in 2021 — among the 11 billion total — were instant payments, almost three times as many as in 2020, according to the January/February 2022 Disbursements Tracker®. That upswing has instant payments gaining ground...
United States consumers received 11 billion disbursements in 2021, and 17% of those were instant payments, approximately tripling the 5.7% of instant disbursements made in 2020. Instant payments are gaining even on same-day account transfers, with 22% of consumers receiving disbursements by same-day automated clearing house (ACH) versus 20% who received at least...
