Disbursement Tracker – Nov 2018

November 5, 2018

Why are we seeing accelerated adoption and growth in instant payments and what should we expect in the coming months?

“The rate of adoption for instant payment solutions is rapidly accelerating for two reasons. The first is consumer and small business demand. These segments are conditioned by experiences in retail, travel and entertainment to expect instant, customer centered, customizable interactions in all aspects of their lives – including money. A recent PYMNTS study found that 75.5% of U.S. consumers who received disbursements say speed is important to them. For small businesses that depend on cash flow as a competitive advantage, this number is even greater: 86% expect instant payments and the majority are willing to pay a fee to receive them.

The second reason why the rate of adoption for instant payment solutions is rapidly accelerating is the inherent business benefits. Just as small businesses need access to real-time disbursements to thrive, so too can payors enhance their bottom lines. Those companies that offer instant payments – whether they’re insurers, lenders, merchant processes, or others – can delight their customers and earn long-term loyalty. At the same time, they can significantly cut costs compared to paper checks or even ACH disbursements, and, in some cases, add new revenue-earning lines of business.

Over the remainder of 2018 and into 2019, we are going to see this adoption grow even faster and wider. As this Tracker notes, this expansion has now encompassed payroll, an enormous industry with the potential for quick penetration through third-party processors and large providers. We have passed the tipping point and are well on our way to the true instant money economy.”

Drew Edwards
CEO at Ingo Money

PYMNTS.com Disbursement Tracker November 2018 Cover Image

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Table of Contents

    The newest disbursements developments, including the rise of real-time payment programs across the globe
    Tommy Mayfield, CEO and founder of Wyndy, explains how mobile devices and integrated payments can make routine tasks, like hiring a babysitter, much easier
    The latest headlines from around the space, including Worldpay’s effort to expand its instant payouts tool to 50 countries
    PYMNTS explores how companies are utilizing instant payments to retain freelancers and gig workers
    The top companies in the disbursements market — including networks, enabling platforms and point solutions — based on the services they provide
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