Checks may be cumbersome and flawed, but they persist as one of the top methods by which businesses, legal firms and universities pass refunds to consumers, clients and students. U.S. academic institutions are legally required to offer check refunds to students, despite the option’s well-documented...
Real-time or instant payments have proved their worth to the businesses — and individuals — that need quick transactions to stay afloat. The benefits of such payment solutions include crucial fraud protection features and data insights regarding their clients and consumers, which can lead to...
Legacy technology issues abound these days, but for sheer scale (and a good giggle) always look to the government. In 2018, one laughable incident involved the U.S. Air Force budgeting $10,000 per seat to refurbish toilets on the country’s aging fleet of Cold War-era nuclear...
Fifty-nine percent of U.S. adults still live paycheck to paycheck, and the realities of the situation are stark: These consumers often do not have funds to spare to cover emergency expenses, and are dependent on receiving timely and convenient disbursements. State and local government disbursements...
Payments made with cash and checks are dropping in volume — the use of cash alone declined 40 percent over the past five years in Canada. Instant payments started 2020 on a high note, however, with the adoption of real-time payments and other speedy disbursement...
Local and state government agencies tend to approach innovation slowly and methodically, but careful vetting and execution have drawbacks for disbursement developments. State agencies handle disbursements for property refunds, public programs, taxes and more, and many are still clinging to paper checks as part of...
Photographers and other creative professionals find aggregators to be extremely efficient at distributing their work, but extremely inefficient when it comes to paying them royalties when their works are used. In the latest Disbursements Tracker, Paul Brennan, vice president of content operations for Shutterstock, discusses...
Instant payments are lauded for their convenience, ease and most importantly, for their speed. Fifty-one percent of United States consumers stated in the most recent PYMNTS Disbursements Satisfaction Report that they would prefer to receive tax refunds, child support payments and other government payments through...
More than 90 percent of U.S. consumers now prefer to receive digital payments over paper checks. Cash and checks persist as the disbursement methods for many companies, however, despite the growing preference for online payments. These outdated methods cause frictions, both in delaying the payout...
