The bullish forecast comes from the latest edition of the "Real-Time Payments Tracker®," where Chris Ward, head of wholesale payments at Truist Financial, tells PYMNTS how this exponential and seismic shift in real-time payments will also create a completely new dynamic between businesses and consumers.
Digital payments have become table stakes around the world, with more than $6.6 trillion in digital transactions taking place last year and this sum expected to hit $10.5 trillion within the next four years. These payments are often much slower than other digital facets of...
It’s a paradox, to say the least. Consumer demand for instant payments has climbed higher than ever. Ingo Money CEO Drew Edwards told PYMNTS’ Karen Webster that at first glance, it’s the use cases where the consumers need the funds right now that are proving...
Less than a year from now, faster payments — instant ones, in fact — will be a widespread reality in the United States. Connie Theien, head of industry relations for Federal Reserve Financial Services, told PYMNTS that the work going on behind the scenes has...
Instant disbursements whether from government or private entities are increasingly popular with consumers when offered and have a major impact on consumer perceptions of senders. For the Disbursements Satisfaction Report 2022, a PYMNTS and Ingo Money collaboration, we surveyed over 3,600 U.S. consumers about their...
In an effort to help carriers with cash flow, digital freight network Convoy is enhancing its payments service to add money to carriers’ bank accounts within eight hours of load completion. The company is augmenting its Convoy QuickPay service, according to a Thursday (Sept. 8)...
Quick and accurate payments are critical in the modern economy for both consumers and businesses. Both groups relied largely on legacy systems such as wire transfers and paper checks until recently, and these came with a barrel of challenges, including delays, inaccurate totals and tedious...
Real-time payments’ popularity has soared in the United States since the 2017 introduction of The Clearing House’s RTP® network, which offered businesses and consumers an exponentially faster way to transfer funds than legacy methods such as paper checks, wire transfers and cash. The pandemic gave the...
Real-time payments have become popular in the United States in recent years, especially for businesses that transact large sums with other major corporations. Fifty-three percent of U.S. businesses said cash flow management improves when transmitting real-time payments, for example, and 33% reported improved transparency in...
