One Inc has teamed with insurer Zurich North America to help digitize claim payments. The insurance industry payments network announced Wednesday (June 26) that Zurich — which provides commercial and risk management services — had implemented One’s digital claims payment systems for outbound claims payment...
Federal Trade Commission (FTC) lawsuits resulted in over $324 million in refunds to consumers in 2023. That total includes money returned to consumers as a result of all FTC cases, whether the refund program was administered by the FTC, other federal agencies or the defendants, the...
Eisen and Checkbook partnered to help financial institutions streamline payment disbursements and ensure compliance with consumer protection regulations. The companies’ new Disbursement Hub is designed to help financial institutions meet the challenge of the evolving regulatory landscape around account closures and fund disbursements, according to a Thursday (May 16) press release. “Our strategic...
Nearly three-quarters of consumers want their disbursements paid to them instantly, but only one-third actually receive them instantly. Whether they are getting earnings, income payments, Social Security payments, tax refunds, insurance payments, loan disbursements or some other type of payout, PYMNTS Intelligence data found that...
Wilmington, Delaware-based WSFS Bank has launched a new offering that lets customers receive eligible direct deposits from employers and recurring government benefits up to two days early. There are no costs or fees associated with this new Early Pay offering, the bank serving the Greater Philadelphia and Delaware region...
The German parliament approved legislation Friday (April 12) that calls for benefits to be delivered to asylum seekers on payment cards rather than cash. This change is meant to limit how these migrants can use the benefits, AP reported Friday. The payment cards will only be able...
The popularity of instant payouts has grown in recent years. In 2017, only about 4% of disbursements were paid instantly; as of January, 32% of payments were delivered instantly, according to the PYMNTS Intelligence report “Measuring Consumers’ Growing Interest in Instant Payouts.” One reason is...
TD Bank introduced a tool that lets customers get direct deposits two days early. TD Early Pay, announced in a Tuesday (March 26) press release, is part of a pair of new offerings from the bank that also includes its TD Complete Checking product. “As customer...
For the bad actors, check fraud is en vogue. For consumers, and for banks, the rising embrace of disbursements may have a positive knock-on effect: cutting down on check fraud by reducing the number of checks intercepted by fraudsters. As reported, the Financial Crimes Enforcement...
