Same-day automatic clearing house (ACH) has long been the most common way consumers receive disbursements — payments from their employers, their insurers and even from the United States government — but that is about to change. The share of consumers receiving disbursements via instant payments tripled between 2020 and 2021, with 17% now receiving them instantly, putting instant payments on track to overtake same-day ACH as the most common disbursement receipt method as soon as 2022.
This is just one of the key findings uncovered in The State Of Consumer Disbursements: Who Paid Consumers — And How Quickly, a PYMNTS and Ingo Money collaboration. We surveyed a census-balanced panel of 2,951 U.S. consumers about their awareness of instant disbursements, whether they receive them and whether they would be willing to pay extra for instant options. The responses were used to gauge the scale of opportunity that organizations face by offering these recipients the instant payment methods they demand.
Key findings from our research include:
Consumers’ mounting interest in instant disbursement options, even their willingness to pay extra for them, is just part of a much broader unfolding story about how their disbursement receipt preferences can change over time. In The State Of Consumer Disbursements: Who Paid Consumers — And How Quickly analyzes the drivers behind consumers’ growing awareness of and demand for instant payments and faster disbursement options.
To learn more about consumers’ rising demand for instant disbursement options, download the report.