What is a Money Mobility Network?

money mobility network

A Money Mobility network connects accounts, payment methods and third-party platforms to make the flow of money more secure, efficient and intuitive for account holders.

These networks might be decentralized, existing solely through on-demand connections initiated by a consumer. They could take the form of an app from a FinTech or financial institution (FI).

And they could work through a series of interrelated payment processing platforms that interact in the cloud or are triggered on a per-transaction basis to make sure the user experiences of sending, receiving or managing payments are consistent in quality and remain so at scale.

Essentially, a Money Mobility network provides “any-to-any” payments and disbursements that give consumers instant access to check and cash deposits and immediate digital transfers.

Robust networks make use of rich historical data, letting participating FIs, FinTechs and neobanks reduce risk by automating the identification of possible fraud while curbing the false declines that interrupt legitimate transactions.

Research by PYMNTS shows that 47% of consumers listed security as their highest priority for picking a disbursement method, with 36% naming speed and another 39% saying ease of use was most important.

Each of these three priorities lines up with the Money Mobility model, and data suggest that there is consumer interest in integrating Money Mobility features into their lives more often.

The State Of Consumer Disbursements 2021, a collaboration between PYMNTS and Ingo Money, found that income and earning disbursements via instant payments technology — a more-or-less recent phenomenon — was the most frequently adopted Money Mobility feature.

People who received income and earnings disbursements are the most likely to have gotten instant disbursements, as 23% did so, representing a marked jump over the 8.6% who received instant disbursements in 2020.

Meanwhile, the share of insurance and lending disbursements using instant payments has risen more than 10 times since 2018. Our research also turned up substantial growth in rapid investment disbursements, which exhibited the highest rise in adoption and in the share of consumers getting instant nonwage or earnings disbursements.

For more on this topic, download The Money Mobility Playbook, a collaboration between PYMNTS and Ingo Money.