Faster access to daily wages has been a lifesaver for gig workers during the pandemic, but remains hard for those without bank accounts. In the Disbursements Tracker, DoorDash’s Emma Glazer explains how offering daily wage payouts through prepaid cards is becoming key to meeting workers'...
While demand for instant payments rises — encompassing everything from online purchases to paychecks and insurance payouts — the understanding of underlying mechanics of disbursements has not grown at the same rate. Sizable shares of both businesses and consumers have misunderstandings about the difference between...
New data shows one-third of U.S. consumers are willing to pay to have faster access to disbursements that are paid to them. In fact, consumers received almost three times as many disbursements via instant payment in 2021 than in 2020, showing the desire for faster...
Historically, businesses’ approach to making disbursements has been a manual one: Bookkeepers take notes in ledgers, then send out physical checks, for which recipients must wait without clear confirmation of when these payments will arrive. This antiquated and opaque process was on autopilot for decades...
Interest in instant payments is growing across the U.S. banking sector, but limited infrastructure and a lack of standardization is hindering payment choices and traceability. In the Disbursements Tracker, Valley Bank’s Walt Cox explains why FIs see ISO 20022's messaging and interoperability standards as key.
The pandemic has pushed payors and businesses across various industries to accelerate their digital transformation efforts, especially as a rising number of consumers expect faster and faster payment experiences, regardless of use case. For example, one recent PYMNTS study found 46% of consumers would choose...
By July of 2020 the U.S. government had made roughly 171 million payments valued at $400 billion as COVID aid was disbursed, of which less than 6% were instant. By 2021, the number of consumers receiving instant disbursements tripled, with 17% of the 11 billion...
Approximately 158 million U.S. consumers received roughly 11 billion disbursements in 2021, whether from the government, their employers, their insurance companies or others, according to The State of Consumer Disbursements, a PYMNTS and Ingo Money collaboration based on a survey of 2,951 U.S. consumers. Get...
As much as we’d like to think the day of writing and mailing checks to pay bills is over — or even close to being over — there’s still plenty of reason for businesses to pay attention to those who prefer to settle their debts...
