Disbursements Tracker – February 2020
February 13, 2020
How do you see demand for faster and digital disbursement methods changing as more millennials and members of Generation Z enter the U.S. workforce?
“Given how millennials and Gen Z have grown up with digital devices that allow for on-demand everything, including communication, entertainment, shopping and more, there is no doubt that their expectations for faster and digital disbursement methods will continue to grow.
They think ‘If I can use PayPal or Venmo to pay my friend back instantly, why can’t my employer pay me now, just as fast?’
Businesses and banks have a prime opportunity to meet the instant gratification expectations of these younger consumers through real-time digital disbursements, but to win they will need to do more than just offer them.
The key to success, given these consumers’ daily experiences using Apple, Amazon and Google offerings, will be to deliver a great customer experience. The process to receive instant funds should be easy, simple and delightful, giving users choice in where to receive their funds. Millennials and Gen Z want to pay and be paid on their own terms. If companies can’t deliver on this expectation, these consumers will be the first to look elsewhere for a challenger who can.”
CEO at Ingo Money
Table of Contents
- WHAT’S INSIDE
A look at the latest news in the space, including why universities are upgrading to ACH disbursements while legal firms still rely on paper checks
- FEATURE STORY
An interview with Sherry Rossiter, bursar at Ohio University, on why the institution is continuing to offer check disbursements despite direct deposit’s popularity among students
- NEWS AND TRENDS
The most recent disbursements headlines, such as health insurance startup Oscar Health’s new online portal for enhanced claim payouts and why check fraud remains a top concern for SMBs
- DEEP DIVE
An in-depth exploration of the methods U.S. universities use to disburse funds to students, and why legacy disbursements hurt both sides of such transactions
- PROVIDER DIRECTORY
A look at the top companies in disbursements, including two additions: BLIK and Worldpay
// Related Resources
Disbursements Tracker – August 2021 Rise of P2P Payments and Why Interoperability is Key to Even Greater Growth
A look at recent disbursements developments, including why P2P payments are becoming more valuable to consumers and businesses alike and how these solutions are poised to grow even more popular in the years ahead.
Disbursements Tracker – July 2021 Bringing Faster Digital Payouts to Gaming and Gambling Platforms
A look at recent disbursement developments, including the challenges involved in bringing faster digital payouts to gaming and gambling platforms and how instant disbursements can solve these pain points.
Disbursements Tracker – May 2021 Digital Marketplaces Tap Instant Payouts To Keep Sellers Satisfied
A look at global disbursement shifts, including why eCommerce marketplaces should begin supporting instant payments for sellers as the pandemic impacts consumers’ spending and businesses’ disbursement needs.