Instant Payments: A Strategic Tool for Vendor Relationships and Urgent Transactions

The Gig Economy Leads Demand for Instant Ad Hoc Payments

Instant Payments: A Strategic Tool for Vendor Relationships and Urgent Transactions

Businesses with a high need to make one-off disbursements urgently are five times more likely to use instant payment methods, with the gig economy showing the highest demand for immediate payouts. PYMNTS Intelligence’s latest report, “Instant Payments: A Strategic Tool for Vendor Relationships and Urgent Transactions,” a collaboration with Ingo Payments, details how adopting instant payments can be a critical tool for fueling operational efficiency and retaining vendors.

Inside the April Study

  • 100%: Share of senders making 30% or more of their ad hoc payments urgently that sent such payments to consumers instantly at least once
  • 97%: Portion of payments due to gig workers and companies that provide fuel to trucking companies that need to be sent urgently
  • 54%: Share of senders with high payment urgency needs who would pay a higher fee to remit instantly if a vendor refused to deliver before payment is made

    By completing this form, you agree to receive marketing communications from PYMNTS and consent to the sharing of your information with our sponsors, where applicable, in accordance with our Privacy Policy and Terms and Conditions. Sponsors may use this information to contact you directly. You may update your preferences or withdraw your consent at any time.

    to our daily newsletter, PYMNTS Today.

    Instant Payments Report