Consumers and businesses — running the gamut of transaction types and across demographics — are pivoting toward faster and digital payment options. Overall, as detailed in two reports by Federal Reserve Financial Services, last year saw a 31% increase in digital wallet use by businesses, and a...
Truck drivers help keep the supply chain functioning, but the turnover rate is high in the industry — a reality that can have ripple effects across the entire U.S. economy. PYMNTS Intelligence’s “Generation Instant: How Truckers Use Instant Payments to Support Their Lifestyles” revealed that...
Small to mid-sized businesses (SMBs) in the restaurant segment now use instant payments more than other payment methods. PYMNTS Intelligence finds that 74% of businesses surveyed sent instant payments in the last year. Moreover, 40% identify an instant option as their most used form of...
J.P. Morgan and Visa have teamed to offer faster domestic payments via Visa Direct. The collaboration, announced Monday (May 6) is designed to improve merchant experiences and empower cardholders for customers of J.P. Morgan Payments. “With Visa Direct’s extensive reach in the U.S., J.P. Morgan Payments will empower merchants, businesses...
Real-time payments continue their rapid expansion worldwide, bolstered by widespread support from banks, corporations and governments alike. This edition of the “Real-Time Payments World Map” highlights the latest news and developments shaping the real-time payments landscape. NetXD Simplifies Real-Time Payments Onboarding and Integration in the...
In B2B interactions, faster payments — especially ad hoc payments — may prove to be a competitive advantage. PYMNTS Intelligence found that non-recurring payments represent roughly a quarter of total accounts payable volume. One-third of companies surveyed said improved customer/client satisfaction would be part of improved ad hoc payments....
Use cases for real-time payments have never been a source of argument, even among detractors. The ability to speed bill payment and peer-to-peer flows, as well as move money instantly, has been around for a while. The FedNow® Service debuted last summer, while The Clearing House’s RTP® network has been operating since 2017....
Small to mid-sized businesses (SMBs) in the healthcare provider segment now use real-time payments more widely than other payment rails. PYMNTS Intelligence finds that in the last year, 83% of businesses surveyed either sent or received real-time payments and 57% used real-time rails in both...
Winning can provide an instant rush — and although 8 in 10 gamers prefer immediate access to their winnings, less than half of gamers now have access to instant payouts. That is one key takeaway from “Generation Instant: Gamers and Winnings,” a report PYMNTS Intelligence created...