Enterprises regularly make ad hoc payments to consumers and small- to medium-sized businesses (SMBs). In the last year, the share of accounts payable (AP) comprised of ad hoc payments has grown substantially. This suggests that companies are shifting to business models where they do not onboard recurring payees. The use of instant payment methods to send ad hoc payments is growing as well.
Forty-five percent of ad hoc payments are sent via instant methods, up from 36% in January 2024. These methods are the most common way ad hoc payments are sent. The gig economy and gaming industry are driving the increase. This data suggests that instant is on its way to becoming the go-to method when sending ad hoc transactions.
These are some of the findings explored in “How Instant Pay Is Becoming the Standard for Ad Hoc Payments,” a PYMNTS Intelligence and Ingo Payments collaboration. The report is based on a survey of 200 enterprise senders generating at least $50 million in annual revenue across the United States conducted between June 20 and July 10. It examines these issuers’ use of instant methods to make disbursements to SMBs and consumers. The report focuses on the following industry segments: hospitality, gaming, trucking/transportation, gig economy (e.g., freelance workers) and property management.
The report explores the senders’ growing adoption of instant payment methods to send ad hoc payments. Featuring 10 charts of insightful data detailing the rise of instant ad hoc transactions, the report explores how instant is becoming the standard method for ad hoc transactions. Download the report to learn more.