Measuring Consumer Satisfaction With Instant Payouts
November 10, 2023
In the last year, 62% of consumers received disbursements from various corporate and government agencies, with the average consumer receiving $34,000.
25%: Portion of consumers who have received income and earnings disbursementsIn the last two years, consumers have received just 36% of payouts via instant payment rails. Payors have an opportunity to increase the use of instant payments, as 72% of consumers prefer this method, and 62% would have chosen instant options if they had the chance. Consumers are also willing to put their money where their mouth is. Many are willing to pay a fee to receive payouts via instant rails, especially those receiving payments for freelance, contract or consulting projects.
These are just some of the findings in “Measuring Consumer Satisfaction With Instant Payouts,” a PYMNTS Intelligence and Ingo Money collaboration. This report draws on a census-balanced survey of 3,903 U.S. consumers to examine consumer satisfaction with the disbursements they receive from government and nongovernment entities. This report series is in its sixth year and provides insight into consumers’ growing interest in instant payouts, even as some issuers are lagging in offering instant options.
Download the resource to see what we learned.
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