Faster payments — instant payments, to be specific — are becoming top of mind for many consumers. In the Disbursements Satisfaction report, done in conjunction between PYMNTS and Ingo Money, we found that instant payouts have a greenfield opportunity to help transform (and speed up)...
A few short years ago, instant payments were impossible to receive in the United States. Then, in 2017, The Clearing House launched its Real-Time Payment network — but before that, waiting for payments to clear could take days. Fast forward to 2022, and instant disbursements...
Even before the pandemic, there was already an inexorable shift taking place within payments. And yet, depending on where you look, there’s still a few spots that are due for a bit of catch up. Tracy Monson, chief product officer at Onbe, and Renee Albert,...
Frictionless money-out capabilities and seamless authentication are top priorities for consumers. Payments have grown more digital than ever in recent years. Customers have switched from cash and checks to online banking, contactless payments and peer-to-peer (P2P) payment apps in record numbers, with the latter proving...
An interview with Lilac Bar David, founder and CEO of FinTech Lili, on how financial institutions (FIs) and FinTechs can ensure smooth money transfers — Small- to medium-sized business (SMB) owners are the backbone of the modern economy, contending with the same challenges as their...
Digital payments have become table stakes in the United States and worldwide. More than $6.6 trillion in digital payments changed hands last year, a 40% increase from the two years prior. This sum is projected to hit $10.5 trillion within the next four years, and...
In 2021, 59% of United States consumers opened at least one new account with a financial services provider. At the same time, 67% of U.S. consumers access their bank through digital channels, from checking balances and paying bills to monitoring transaction alerts. Bank of America CEO Bryan Moynihan...
In the "Money Mobility Tracker®," Andrew Jamison, CEO and co-founder at Extend, tells PYMNTS how instant-issue virtual cards not only empower workers to make purchases but also give companies greater control over spending as well as simplified expensing and accounting.
Consumers have grown accustomed to the idea of low-friction digital payments and account transfers, and businesses that are not keeping up with the push for money mobility ubiquity risk frustrating customers and losing their business. Digital wallets and peer-to-peer (P2P) payment apps continue to grow...
