Community banks have made meaningful progress in digitizing account opening, but the competitive battleground for deposits is shifting. Opening and even funding accounts are no longer enough to secure lasting relationships. The defining factor is what happens next: whether those accounts become central to everyday...
Banks and credit unions are opening millions of new accounts, yet too many fail to become active relationships. As FinTechs deliver instant funding and immediate usability, traditional financial institutions (FIs) are facing a shift. Deposit growth now depends on how quickly new accounts move from...
“Five Years of Change: How Payouts Shifted From Slow and Paper-Based to Instant and Digital,” a collaboration between PYMNTS Intelligence and Ingo Payments, tracks how the U.S. payout market changed throughout the last five years as consumers and businesses moved away from paper checks and...
As consumers grow accustomed to instant digital interactions in nearly every aspect of their lives, the timing of when money arrives is no longer a back-office detail. It is a visible signal of reliability, trust and financial control. Disbursement speed is now a defining factor...
A new PYMNTS Intelligence report suggests that the most meaningful trend in instant payments is not how fast money moves but how recipient behavior is reshaping the economics of payouts across industries. “Money Mobility Ecosystem: Meeting Recipient Expectations in the Instant Economy” finds that instant access...
Food stores and retail establishments in New York are required to accept cash payments for in-person transactions after a bill was signed into law by the state’s governor. Governor Kathy Hochul signed Senate Bill S4153A into law on Nov. 21 after it was delivered to...
Tipping is shifting from cash jars to digital channels, transforming how workers are compensated and how employers attract and retain staff. What once required end-of-shift cash distribution is now handled through digital payout systems that provide immediate access to earnings and eliminate inconsistent manual processes....
Many companies have spent the past decade refining customer experiences, yet one component still moves slowly: how fast people can access their money. PYMNTS Intelligence data indicate that while businesses continue to invest in engagement tools, the biggest loyalty driver in the “instant economy” may...
Businesses, especially marketplaces and gig platforms, are waking up to the value of building their own banking networks. According to PYMNTS Intelligence in collaboration with Ingo Payments, the line between payments provider and platform operator is blurring fast. Nearly two-third of businesses surveyed (65%) are highly interested in using...