Today In Data

Today In Data: Workplace AI, Faster Payments’ Proliferation And Snap Shares Are Up

Today in PYMNTS data, finance professionals are using artificial intelligence (AI) in the workplace, payment speeds have varying impacts on different-sized businesses, Snap shares officially snapped their losing streak, faster payment schemes are on the rise worldwide and crowdfunding platform fees could soon be a thing of the past.

 

Here are the numbers:

46 percent | Portion of finance professionals who are already using AI in the workplace, according to research released last month from enterprise software company BlackLine. Most say accounts receivable (AR) and accounts payable (AP) will see the largest disruptions from technology, but there is less consensus when it comes to the issue of liability. Sixteen percent believe liability should fall on AI developers, but 45 percent want it to be on finance executives’ shoulders.

30 to 60 | Number of days it typically takes for hotels to get funds into their bank accounts, according to global payout solution Hyperwallet’s research. For small and medium-sized businesses (SMBs), though, these payments represent working capital, and the sooner they get their funds, the sooner they can acquire and sell more goods. At an individual level, real-time, on-demand payments can take the place of payday loans, which are a chronic issue in the United States.

28 percent | Increase in Snap shares in after-hours trading on Tuesday (Feb. 6) after the social media company reported fourth-quarter results that topped expectations. Those results were boosted by subscriber growth and increased retention, snapping a losing streak that had brought forth the dreaded “busted [initial public offering (IPO)]” sobriquet. Global active daily users came in at 187 million, higher than estimated and up 18 percent year over year.

11 | Number of faster payments schemes currently in the works, with another eight reportedly in early-stage planning. More than two dozen are already live around the world, and more and more countries are planning to debut their own in the near future. In the February Faster Payments Tracker™, PYMNTS charts the latest developments surrounding these real-time schemes and the push to bring them all into communication with each other.

5 percent | Average platform fees normally associated with other crowdfunding platforms like Kickstarter or Indiegogo, according to a whitepaper by financial company Acorn. The firm also noted the platforms typically charge a 3 to 5 percent transaction fee, and it is currently planning an initial coin offering (ICO) to develop the Acorn Collective to eradicate such fees.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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