In recent years, instant, P2P payments have seen a surge in adoption, emerging as a popular method for consumers to receive funds and make personal transactions and purchases. At the same time, smaller businesses have gravitated toward instant payments because they appreciate the speed, convenience...
If any U.S. consumers are wondering why their packages are late, the answer might be because there simply aren’t enough truck drivers manning 18-wheelers and delivering goods. According to the American Journal of Transportation (AJOT), right now there is a national shortage of truckers in...
Small- to medium-sized businesses (SMBs) in the transportation sector use instant payments more widely than other payment options. PYMNTS Intelligence finds that in the last year, 74% of these businesses surveyed sent instant payments. In fact, 48% of these SMBs identify an instant option as...
More small- to medium-sized businesses (SMBs) operating in the healthcare sector issued payments via real-time methodologies last year than via traditional methods like credit cards and checks. The PYMNTS Intelligence report “Small Business Real-Time Payments Barometer: Healthcare Edition” found that 38% of healthcare provider SMBs...
Citi introduced Real-Time Funding (RTF), part of its real-time treasury solutions for corporate customers. “Citi RTF enables the automated movement of funds between cross-border accounts based on predefined rules set by the client, helping them ensure that cash is available when and where it’s needed,”...
Life as a freelancer is not for the faint of heart. Freelancing often requires constant hustling, as these workers generally look for new projects even before current projects are completed. And concerns about getting paid add to the aggravation. After all, people who work on...
Real-time transactions continue their sweep worldwide, and payments experts note that the industry has achieved stable and sustainable growth. A newly published report revealed that more than 266 billion real-time transactions occurred worldwide in 2023. This was a year-over-year increase of 42%. Experts attribute this...
Forty percent of the independent mom-and-pop restaurants in the U.S. that generate $10 million or less annually now use instant payment rails as their primary method to send funds. And these restaurateurs are pleased with the results, according to PYMNTS Intelligence data. Seventy percent say...
While instant payments might seem like an innovation that only big companies would embrace, these types of expenditures are gaining traction with many mom-and-pop eateries. The PYMNTS Intelligence report “Small Business Real-Time Payments Barometer: Restaurants Edition” found that the number of restaurant small- to medium-sized...