Real-time payment ability may take on new importance amid a growing need for instant disbursments. Property insurance has made many headlines in the past few months, when natural catastrophes caused damage from Florida to Hawaii. Historically, property insurers generally pay out for these claims if...
Universal Music and streaming service Deezer have reportedly agreed to raise payouts to artists by 10%. The arrangement is the first major shift in the streaming music business model since Spotify came on the scene 15 years ago, the Financial Times (FT) reported Wednesday (Sept. 6). “This is a massive change in...
Bank of America has launched its Global Digital Disbursements solution in Canada. This solution aims to support business-to-consumer (B2C) payments and consumer-to-business (C2B) request for payments, providing a cost-efficient and customer-friendly alternative to cash or check payments for companies, the company said in a Tuesday (Aug. 29) press...
Stellar’s disbursement platform, first developed for people in Ukraine, is now open to the world. The blockchain network announced the launch of the open source bulk disbursement tool on Twitter/X Wednesday (Aug. 16), saying it allows digital asset payments to and from anywhere in the world....
In the auto claims industry, the payments tech stack is complex, and the total cost of ownership is expensive. As Michael Boeke, vice president of payments product management at CCC Intelligent Solutions, told PYMNTS in an interview, “payments can look pretty different depending on where a carrier...
While 2022 was something of a banner year in that $1.37 trillion in insurance claim payouts were sent, and $277 billion — or 20% — went via instant payment rails, the most since 2018, there’s more in store when we break down data on consumer...
The auto claims payment process is ripe for a technology-led overhaul. “There are inefficiencies and manual processes, and the processes are not yet fully connected,” Kelli Svymbersky, vice president of sales and business development for payments at CCC, told PYMNTS. “There’s a tremendous opportunity to bring digital...
We’ve all gotten used to speed, to getting what we want on demand, through digital channels. In research done in collaboration between PYMNTS and Ingo Money, and as detailed in the latest installment of the “Disbursements Satisfaction Report” report titled “Instant Payouts Reach an Inflection...
Consumers’ need for speed when it comes to insurance payouts may be at odds with common practices in the sector. When consumers are owed money, whether gambling earnings or insurance payouts, they want to be paid as soon as possible. In fact, 68% of all consumers surveyed would choose...
