95% of Payouts to Bank Accounts Don’t Happen in Real-Time
How Open Banking Can Provide Fast and Easy Consumer Payouts
Customer satisfaction and instant payments go hand-in-hand, according to PYMNTS Intelligence’s recent survey of 2,559 U.S. consumers done in collaboration with Trustly. However, only 5% of payouts made directly to bank accounts are received immediately, presenting an opportunity for open banking connectivity tools to close the satisfaction gap. Learn more in “How Open Banking Can Provide Fast and Easy Consumer Payouts,” a PYMNTS Intelligence and Trustly collaboration.
Inside the October Report
- 71%: Share of consumers who received payouts from public institutions and had them sent directly to their bank accounts
- 50%: Share of millennials who report that the availability of open banking connectivity features highly influence their choice of merchant or provider
- 48%: Share of consumers who received a larger number of payouts who said connectivity features are their most preferred way to receive funds
