Cover for the PYMNTS and Ingo Money July 2023 “Issuers Report 2023: FinTechs' Instant Payment Mismatch”

Issuers Report 2023: FinTechs’ Instant Payment Mismatch

Study Finds Most FinTechs Don’t Meet Consumers’ Instant Payments Expectations

If it’s not good funds available to spend right away, then it’s not instant payments. That’s what PYMNTS’ latest study of 2,292 U.S. consumers, “Issuers Report 2023: FinTechs’ Instant Payment Mismatch,” a collaboration with Ingo Money,  finds, but most of the 150 FinTech issuers we studied say they are not able to deliver.

Inside the July Report

  • 41%: Portion of FinTech issuers that allowed their customers to receive P2P transfers in Q2 2023
  • 28%: Share of consumers citing guarantee of good funds/speed as their most experienced issue when moving funds out of their accounts
  • 32%: Portion of FinTechs that cited limited payment options as their account holders’ most experienced issue when moving funds out of their accounts

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