As the online gambling and casino industries continue to grow, payments present both a challenge and a considerable opportunity. Customers involved in gambling have traditionally preferred making and receiving payments in cash due to its anonymity, but times are changing. A KPMG survey taken in...
In this month’s “Money Mobility Tracker®,” DraftKings tells PYMNTS why it thinks that its bet on instant payments is a slam dunk to boost the growth of online sports gambling, without compromising security.
The online sports betting industry is on a winning streak. After a Supreme Court ruling in 2017 paved the way for states to legalize gambling on college games, sports betting has taken off and is now live in 31 states. At last check, Americans have...
Despite substantial advances in digital solutions, consumers still use cards and automated clearing house (ACH) transfers for nearly all their non-cash payments. These are closed-loop systems, lacking the agility and efficiency that today’s consumers and businesses expect. By contrast, open-loop peer-to-peer (P2P) payment networks liberate...
The average U.S. FinTech loses $51 million to fraud every year, and many lose even more. Even so, that figure only begins to capture the heavy toll that fraud can have on FinTechs’ businesses. PYMNTs’ data finds that the true impact of fraud extends far...
The business world has transformed over the last few years as the global pandemic spurred a move away from centralized teams and toward a more agile, global workforce. Now inflation is straining many workers’ budgets. The need for greater flexibility and ease in paying workers...
PYMNTS talks with Ben Mendelsohn, director of product management at Fifth Third Bank, about how faster direct deposits have an appeal for workers of all stripes — Fifth Third’s journey to early wage access offerings began with immediate funds on check deposits, according to Mendelsohn....
Fifty-five percent of consumers say their pay is falling behind in the race against inflation. Amid consumer anxiety about the rising cost of living, employees say they want more from payroll — including financial wellness benefits. A recent PwC survey found that more than three-quarters...
The COVID-19 pandemic created a need for unprecedented government disbursements. The United States federal government alone distributed $931 billion in direct payments to approximately 165 million individuals in 2020 and 2021, far exceeding any previous stimulus payment program in recent history. An estimated 9 million...