For years, personal trainers have relied on old-school equipment like pen, paper and, yes, checks to stay organized, get paid and generally keep their professional lives fit. But just as fitness workers are helping clients shed their spare tires and find newfound flexibility, new disbursement solutions are helping these professionals embrace more modern payment delivery methods and scheduling tools.
The November edition of the PYMNTS.com Disbursements Tracker™, powered by Ingo Money, looks at how several global industries, including insurance, ridesharing, lending and fitness, are moving ahead with more efficient disbursement tools that are further rendering the paper check irrelevant.
Around the World of Disbursements
For passengers, a fast, seamless experience is one of the most appealing elements of the rideshare model. But, from the other side of the transaction, can rideshare drivers also enjoy that same experience when getting paid?
In an effort to offer rideshare workers faster access to their wages, First Data recently launched a new solution that delivers the money directly onto a debit card. The new Disburse-to-Debit service can push payments over a wide debit card network, enabling rideshare drivers to receive their earnings in real time. First Data said the service can also be used in property rental marketplaces, insurance claims and other consumer payouts. For more insights on the state of payments for rideshare workers, PYMNTS recently spoke with several Oregon-based rideshare drivers about their experiences getting paid through their service.
New disbursement solutions are also giving merchants faster access to business loans and improving cash flow for these companies – while at the same time casting doubt on the future role of the paper check in business lending. A collaboration between Ingo Money, Visa and digital lending platform OnDeck will allow SMBs that request loans through OnDeck to have the funds disbursed directly to their business debit cards in real time.
On that note, banking customers in Australia are getting their first exposure to real-time payments. A group of 13 Australian banks announced a joint effort to allow customers to get real-time payments beginning on January 26, the nation’s Australia Day holiday. With the service in place, bank customers can exchange money between contacts in a matter of seconds using identifiers such as mobile numbers and email addresses, instead of sensitive data like bank accounts.
Deep Dive: Direct Deposits and Tax Returns
When tax time rolls around, eight out of 10 U.S. tax filers receive a federal refund. A review of data from the Internal Revenue Service indicates that when it comes to receiving that refund, direct deposit is the clear winner over paper checks. The November edition of the Disbursements Tracker includes a data Deep Dive that explores the history of direct deposit for tax returns, its growth in popularity over the years and how this method of tax return delivery can help boost economic inclusion.
To read the Deep Dive, along with a roundup of the latest notable news from around the disbursements space, check out the latest Tracker.
Pushing Payments to Personal Trainers
When looking to shed a few extra pounds or get in shape for warmer weather, consumers can turn to personal trainers to help them meet their fitness goals, boost their endurance or raise the flexibility bar. Today, new solutions are helping fitness professionals gain more flexibility in scheduling sessions and accepting payments.
For the November Tracker’s feature story, PYMNTS caught up with Fitli CEO and founder John Cline about helping personal trainers and other fitness professionals accept payments, and the “chicken or egg” challenge of pitching a fitness marketplace to customers while simultaneously encouraging instructors to join the platform.
To read the story, download the Tracker.
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The PYMNTS.com Disbursements Tracker™, powered by Ingo Money, is your go-to resource for staying up to date on a month-by-month basis on the trends and changes in the digital disbursement space.