When it comes to receiving money, consumers want more control.
More precisely, their satisfaction with disbursement methods comes down to the three C’s — convenience, certainty and choice, findings in the latest Disbursements Satisfaction Index revealed. To meet that growing demand for improved digital disbursement tools that address each of those categories, solution providers from nearly every corner of the globe are rolling out faster, safer and more convenient products and solutions.
In the July edition of the Disbursements Tracker™, PYMNTS highlights some of the notable disbursement developments changing how payments are made around the world.
Over the last month, the European market saw rollout of several new disbursement solutions.
In Sweden, caller identification solutions provider Truecaller announced it had acquired peer-to-peer (P2P) payments app Chillr, as part of the company’s plans to use Chillr’s workforce and software to roll out its own financial lending service. Chillr’s app initially debuted in 2015 to process P2P payments from multiple bank accounts.
Meanwhile, in France, B2B ridesharing provider SnapCar announced a new partnership designed to speed its payment process. The company teamed up with banking alternative Revolut to update its payment infrastructure, a move enabling it to provide instant and automated payouts directly into rideshare drivers’ accounts. SnapCar drivers previously cited dissatisfaction with being paid weekly.
But Europeans weren’t the only ones seeing the rollout of on new digital disbursement tools as of late.
Pakistan’s Higher Education Commission (HEC) announced it will work with the National Bank of Pakistan (NBP) and the United States Agency for International Development (USAID) to debut an online disbursement tool for scholarships.
In Africa, mobile digital payments companies Orange Money Botswana and EcoCash recently announced a collaboration to offer a new digital money transfer service for Zimbabwean natives living in Botswana. The joint offering aims to allow Zimbabwean consumers displaced in the country’s diaspora to send money via an Orange Money digital wallet to a mobile wallet offered by EcoCash.
To read the rest of the latest headlines from around the space, check out the Tracker’s News and Trends section.
Digital disbursement tools have also turned the world of event ticketing on its head. Consumers no longer have to camp out to be the first to buy the best seats or get stuck with tickets to an event they can no longer attend, thanks to ticket reselling platforms. That’s tremendously changed the game for sports and music fans, at least according to Jeff Poirier, general manager of music and theater at ticket reselling platform StubHub.
However, when sellers put their tickets on the market, they expect to see them snapped up by an eager buyer almost immediately and to see the corresponding funds in their accounts just as quickly — two prospects that are often easier said than done.
In a recent interview with PYMNTS for the latest Disbursements Tracker, Poirier explained how StubHub and similar platforms work to guarantee money into the accounts of sellers, and tickets into buyers’ hands quickly and securely.
“We’ve really tried to de-risk the idea of committing to live events,” Poirier explained. “If you want to buy a ticket to an event that you really want to go to, but it’s a year down the road, and [then] you find out you can’t go to the event six months later, this allows you to resell the ticket and recoup some of the funds — or even turn a profit.”
To read the full story, download this month’s Disbursements Tracker.
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