Consumers and businesses alike have long been familiar with digital payments, but both now expect smoother payment experiences as the COVID-19 pandemic’s financial impacts continue. Friction points that once proved to be minor nuisances have become legitimate financial challenges, especially for consumers and smaller businesses. Companies attempting to more transparently view their cash...
Waiting two weeks to be paid doesn’t have to be par for the payroll course, says Tom Hammond, vice president of corporate strategy and product management for Paychex. In the Real-Time Payments Tracker, Hammond explains how real-time payroll solutions give employees access to wages on...
Slow payments have long frustrated businesses and consumers, forcing the former to readjust their timelines as they await funds and prompting the latter to put off purchases as they watch for transactions to finalize. Financial services providers have looked to solve these frictions using real-time...
When consumers are offered the option of receiving instant payment, they tend to accept it gladly. Research shows that 90 percent of consumers think getting paid faster is better than getting paid more slowly. But most of the time, they simply aren’t getting the choice, Ingo...
For Libra — the digital currency backed by Facebook and a consortium of enterprises — will speed make a difference toward adoption (if it ever launches)? A new white paper from Mathieu Baudet, George Danezis and Alberto Sonnino — a trio affiliated with Facebook’s Novi wallet...
Consumers today have no shortage of payment options. From traditional physical methods like cash and checks to emerging digital ones such as mobile wallets and payment apps, there are key differences that determine which options they use and when. Consumers tend to use debit...
There’s a bit from “Seinfeld” way back in the 20th century that, paraphrased, goes like this: A check is like a note from your parents that states, “I don’t have any money, but if you contact these people … I’m sure they’ll stick for me....
To paraphrase the movie “Top Gun” … “We feel the need … the need for speed.” The payments ecosystem now prizes quickness above all things in a time of cash flow shortages, where each paper check takes an eternity — assuming it arrives at all....
The COVID-19 pandemic and its economic impacts have created new payment complexities for consumers and businesses alike. Consumers who have lost hours at work or have faced other financial setbacks need to get paid as fast as possible so they can cover their bills, for...
