The share of disbursements received via instant payment rails has tripled since 2020, approaching even that of the most common method, same-day automated clearing house (ACH), which commands 22% of disbursements received. In 2021, 17% of all disbursements received were through instant payment channels, compared...
For all our tech advances, moving money quickly and reliably is still a challenge — especially on a global scale. In the latest "Money Mobility Tracker," Wise’s Sharon Kean looks at how integrating domestic financial systems, working with local partners and automating risk management can...
Consumers are increasingly dependent on digital channels for financial accounts but often still want to use nondigital channels when dealing with complex or unfamiliar areas. While 71% of surveyed consumers said they would be comfortable opening a new credit card account digitally, just 23% said...
The number of registered mobile money accounts grew 13% in 2020 to 1.2 billion accounts worldwide — double the expected growth for that period. The number of active accounts rose as well, with consumers using their accounts more frequently and for new and more advanced...
Banking customers are increasingly coming to expect better money mobility solutions from their financial institutions, such as early access to direct deposits and fee-free overdraft protections. In the Money Mobility Tracker, Current’s Josh Stephens discusses how neobanks have driven those expectations, as well as the...
Even for the significant number of consumers who still prefer opening accounts with traditional financial institutions (FIs), most new accounts opened by consumers are via digital channels. At the same time, those consumers frequently link new accounts — whether they be digital wallets, peer-to-peer (P2P)...
Cash flow had become a significant problem for businesses since the pandemic began. Of the approximately $1.2 trillion in outstanding receivables that small- to medium-sized businesses (SMBs) in the United States obtain each year via ad hoc payments, PYMNTS’ research indicates that 30% are paid late....
Speed is of the essence for large-value transactions, and so is the ability to send those payments across any payments rail. In this month’s Disbursements Tracker, KeyBank’s Megan Kakani explains why allowing payors to pay anyone, anywhere — and using a payments method of their...
As the pandemic has sped up the transition for both consumers and businesses to conduct more and more transactions in digital spaces, the use of checks has become less desirable. The number of digital payment rails available has exploded in recent years, and payees have...
