Disbursements Tracker – March 2021

March 3, 2021

Describe a major roadblock still preventing the use and adoption of instant payments and what businesses and FIs can do to overcome this barrier.

“The layover. No one really wants to spend extra time waiting in an airport en route to their tropical destination or to their home sweet home. You just want to get there, where flying direct is the ideal way to go. And it is no different for disbursements. In order for instant payment adoption to really take off, the disbursement solution provided by enterprise businesses and banks must offer consumers and SMBs real payment choice — not just a single option they have to sign on for if they want to get paid faster. This causes the extra ‘layover,’ or step, in the process to then move the money out to where it really needs to go.

With the pandemic putting increased financial pressure on Americans, especially on SMBs that are actively searching for tools to help manage their cash flow, tying instant offerings to specific accounts or wallets becomes a major roadblock to adoption. The payment layover is not the direct flight and delivers an underwhelming customer experience.

Bringing instant payments to ubiquity and finally killing the check will require banks and businesses to put as many options on the table as possible and let customers’ preferences be their ‘North Star.’”

Drew Edwards
CEO at Ingo Money

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Table of Contents

  • WHAT’S INSIDE
    A look at global disbursement shifts, including how the pandemic is shaping consumers’ and businesses’ payment expectations and what government agencies, insurers and other entities must do to meet them
  • FEATURE STORY
    An interview with Kathy Pickering, chief tax officer for tax preparation firm H&R Block, on how the pandemic is impacting the 2020 tax season and affecting how consumers expect to file and receive their tax refunds
  • NEWS AND TRENDS
    The latest disbursements headlines, including why 50 percent of large-scale FIs are using digital lending platforms and how the pandemic is boosting the online gaming industry’s need for instant payments
  • DEEP DIVE
    An in-depth analysis of instant payments’ popularity and availability a year after the pandemic’s onset and a look at the remaining challenges to promoting such tools’ ubiquity
  • PROVIDER DIRECTORY
    A look at top disbursement companies, including one addition: DigiCash
// Related Resources
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    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.

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