Expectations for faster payments are rising, thanks to increased banking innovation and accelerated eCommerce adoption. As the United States readies for the Federal Reserve’s FedNow Service rollout, the speed of payments is moving toward instant transactions. Speed-seeking consumers are growing used to the added convenience...
Instant disbursements adoption set new records in 2022 — except in lending, where two-thirds of FinTech FI customers would eagerly pay extra for instant disbursements. LendingClub’s Anuj Nayar explains how lenders looking to move toward faster loan disbursements can lean into AI for both speed...
Consumers in the United States frequently receive disbursement payments, whether it be Social Security payments, tax refunds, insurance claim payouts or bonus payouts. In the last year, 63% of consumers received a disbursement — and 68% want the choice to receive their disbursement payment instantly,...
May 24, 2023
Buoyed by changing consumer habits in the wake of the pandemic, the buy now, pay later (BNPL) financing model has exploded in recent years, with more and more consumers and businesses embracing interest-free installment payments on purchases to avoid credit card debt. This surge in adoption has naturally created fierce competition in the BNPL space […]
April 20, 2023
Expectations for faster payments are rising, thanks to increased banking innovation and accelerated eCommerce adoption. As the United States readies for the Federal Reserve’s FedNow Service rollout, the speed of...
