Enterprises regularly make ad hoc payments to consumers and small- to medium-sized businesses (SMBs). In the last year, the share of accounts payable (AP) comprised of ad hoc payments has grown substantially. This suggests that companies are shifting to business models where they do not...
Delayed and incorrect payments are a perpetual headache for the construction industry. These issues not only burden accounting teams but also have serious downstream ramifications. Project delays and canceled contracts are just some of the consequences of payment problems. In the United States alone, slow...
Consumers receive a variety of disbursements. These include earnings and income payments, Social Security payments, tax refunds, insurance claim payments and loan proceeds. In fact, 53% of U.S. consumers received at least one nongovernment disbursement in the previous 12 months as of July. This share...
Workers are growing increasingly frustrated with the slow pace of traditional payroll and outdated biweekly pay periods, especially in today’s economic climate, where many live paycheck to paycheck. For gig workers, freelancers and contractors, the wait for payment is even worse, as they often wait...
Travel spending is on a trajectory to reach an all-time high in 2024, making staffing for travel companies an even greater priority than ever. Outdated payment systems, however, have long posed significant challenges for travel and hospitality businesses, leading to slow payouts, delayed disbursements and...
Receiving insurance disbursements in a timely fashion can be crucial. This is especially true if the expense was unexpected and for a sizeable amount. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
Digital wallets have revolutionized the payment space in recent years. They provide an easy, contactless and secure way to make purchases and transfer money through the convenience of smartphones. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Overpayment disbursements are not the most common payouts nor the largest. In fact, just 7.1% of consumers report they received overpayment disbursements this year. The average overpayment disbursement is just $68, compared to $433 for the average disbursement. Still, many consumers want to receive these...
Being a freelancer requires constantly drumming up work while hoping for prompt payment. Moreover, consumers who work freelance, contract or consulting rely on disbursement payments for part, if not all, of their income. Failure to receive timely payment can lead to financial strain. Instant payments...
