Consumers are getting fewer disbursements this year, PYMNTS Intelligence data shows. However, that may be due to consolidation, not because they are getting less.
Consumer disbursements include earnings and income payments, Social Security payments, tax refunds, insurance claims or loan disbursements, among others.
According to “Measuring Consumer Satisfaction With Instant Payouts,” a PYMNTS Intelligence and Ingo Money collaboration, 62% of U.S. consumers received disbursements from various corporate and government agencies last year, a share that remains more or less stable year by year.
On average, consumers received more than $34,000 in disbursements in 2022, similar to the previous year. However, as of September, they received nine disbursements, down from 14 in 2021, reaching the lowest level since PYMNTS began tracking this data in 2019. This decrease suggests that payers are consolidating payments to lessen their frequency and likely be more efficient.
A quarter of consumer disbursements were income and earnings, with an average payment of $8,634 per person. This payment type had the highest frequency compared to other disbursement types.
On the other hand, government disbursements comprised 22%, averaging $7,708 per consumer. Combined, corporate and government disbursements represent nearly half of all payouts, suggesting that many consumers could benefit from receiving them instantly.
Meanwhile, investment account payouts accounted for 15%, with an average disbursement of $5,235 per annum. Other smaller disbursements include insurance claim payments, with 11%; followed by borrowings with 6%, or loan receipts, at 3%.
“Measuring Consumer Satisfaction With Instant Payouts,” is a PYMNTS Intelligence and Ingo Money research collaboration that examines consumer satisfaction with the disbursements they receive from government and nongovernment entities. This series is in its sixth year and provides insight into consumer interest in instant payouts.