Faster Payments

Faster Payments
Instant Payments Drive Profits for the Small Restaurants That Use Them
May 31, 2024

Forty percent of the independent mom-and-pop restaurants in the U.S. that generate $10 million or less annually now use instant payment rails as their primary method to send funds. And these restaurateurs are pleased with the results, according to PYMNTS Intelligence data. Seventy percent say...

Faster Payments
70% of Restaurant SMBs Say Convenience Is Top Instant Payments Benefit
May 29, 2024

While instant payments might seem like an innovation that only big companies would embrace, these types of expenditures are gaining traction with many mom-and-pop eateries. The PYMNTS Intelligence report “Small Business Real-Time Payments Barometer: Restaurants Edition” found that the number of restaurant small- to medium-sized...

Faster Payments
80% of Truckers Cite Convenience as Instant Payments Preference
May 28, 2024

Who doesn’t like getting paid instantly? According to PYMNTS Intelligence data, roughly a third of all U.S. consumers now select instant payouts when they are available, and even more tellingly, 78% would choose instant payments if given the option. But for some U.S. consumers, getting...

Faster Payments
Bank of America: New EU Instant Payments Rules Address Liquidity for Corporates
May 23, 2024

The payments landscape in Europe is poised for a shift as new regulations mandating support for instant payments go into effect in 2025. That’s no guarantee that consumers and businesses will automatically take advantage of them, but it will have implications for banks as well...

Faster Payments
Faster Payments Poised to Drive Faster Growth for Small Businesses
May 22, 2024

Small- to medium-sized businesses (SMBs) can suffer the most from big delays in getting paid. With the news that the U.S. securities market will be converting to a T+1 standard settlement cycle Tuesday (May 28), faster payments are increasingly top of mind as well for Main Street SMBs looking for not just speed,...

Faster Payments
Where Instant Payments Is Headed — and Why
May 22, 2024

Amid the hype about the FedNow® Service approaching its one-year mark, instant payments may finally be settling down into more grounded territory, specifically, liquidity, competitive advantage and the customer experience. Those factors were top of mind for Ingo Payments CEO Drew Edwards, who told Karen Webster in an interview that the groundswell...

Faster Payments
Fed Surveys Find Lasting Appeal for Faster, Digital Transactions
May 15, 2024

Consumers and businesses — running the gamut of transaction types and across demographics —  are pivoting toward faster and digital payment options.  Overall, as detailed in two reports by Federal Reserve Financial Services, last year saw a 31% increase in digital wallet use by businesses, and a...

Faster Payments
93% of Truck Drivers Want Instant Payments
May 15, 2024

Truck drivers help keep the supply chain functioning, but the turnover rate is high in the industry — a reality that can have ripple effects across the entire U.S. economy. PYMNTS Intelligence’s “Generation Instant: How Truckers Use Instant Payments to Support Their Lifestyles” revealed that...

Faster Payments
JPMorgan Offers Faster Domestic Payments Via Visa Direct 
May 06, 2024

J.P. Morgan and Visa have teamed to offer faster domestic payments via Visa Direct. The collaboration, announced Monday (May 6) is designed to improve merchant experiences and empower cardholders for customers of J.P. Morgan Payments. “With Visa Direct’s extensive reach in the U.S., J.P. Morgan Payments will empower merchants, businesses...