Payment Savvy

DECEMBER 11, 2023

Whether it’s receiving your paycheck through direct deposit or paying your bills online, ACH payment solutions have become an integral part of our daily lives. Two Types of ACH Transfers ACH transfers encompass two primary types: ACH direct deposits and ACH direct payments. What Is ACH Bank Transfer?:

ACH 52

ACH Wire Transfer Direct Deposit Wires 52

PYMNTS

MAY 6, 2019

Customers, on the other hand, need to be assured that their PII, such as credit card or bank account numbers, will remain safe. . A top goal among payments solutions providers is to make these problems as infrequent as possible — and to do so, many are turning to push payments. . The scenario is reversed for push payments.

Push-to-Card 44

Push-to-Card Risk Debit Card B2C 44

PYMNTS

DECEMBER 5, 2019

Revenue is primarily generated by debit card fees and it breaks even on most customers in less than a year, the sources said. Chime attracts about 150,000 direct deposit users a month, which features early delivery of paychecks and other perks. . billion, CNBC reported on Thursday (Dec. 5), citing sources.

Direct Deposit 57

Direct Deposit Push-to-Card Debit Card Accounts 57

PYMNTS

JANUARY 8, 2019

As a pure-play digital bank, Chime offers as its primary product an entirely mobile/digital banking application that gives customers access to a network-branded debit card and a savings account. It was something that was surprisingly hard for them to find in mainstream banking. The brand has been popular with young professionals.

Debit Card 64

Debit Card Push-to-Card Funds Availability Payroll 64

PYMNTS

JULY 16, 2018

Employers are increasingly moving away from depositing paychecks into employees’ bank accounts, offering instead to add them to payroll cards. Payroll cards work like debit cards, allowing employees to purchase goods and services or make cash withdrawals from ATMs. Rules And Regulations .

Payroll 42

Payroll Card Issuer Debit Card Push-to-Card 42

PYMNTS

NOVEMBER 10, 2017

In an effort to offer rideshare workers faster access to their wages, First Data recently launched a new solution that delivers the money directly onto a debit card. The new Disburse-to-Debit service can push payments over a wide debit card network, enabling rideshare drivers to receive their earnings in real time.

Direct Deposit 40

Direct Deposit Debit Card Push-to-Card Payments 40

PYMNTS

AUGUST 10, 2020

These efforts include TCH’s efforts to connect financial institutions’ (FIs’) core banking systems to the company’s Real-Time Payments (RTP) network, along with what card networks and FinTechs are doing to enable real-time push payments to receiver bank accounts. Real time is getting ever closer to prime time.

Real Time Payments 138

Real Time Payments RTP TCH Federal Reserve 138

PYMNTS

OCTOBER 29, 2020

They face an array of options to help them with their acceleration efforts, with some choosing to start delivering payroll via push-to-card offerings or directly into workers’ digital wallets, for example. It is no secret that they are a slow way to deliver funds, however. Vendors are not the only ones feeling the pain, either.

Faster Payments 43

Faster Payments Same Day ACH Real Time Payments Payroll 43

PYMNTS

JULY 27, 2020

For example, many workers who receive their payroll biweekly via a direct deposit on payday or pensioners who receive their payouts on the exact same day count themselves as receiving an instant payment because their money is in the account instantly on the exact day it is supposed to show up. When ‘Instant’ Really Isn’t.

On-Demand 91

On-Demand Instant Payments Push-to-Card Treasury 91

PYMNTS

APRIL 12, 2019

Consumers can receive disbursements in many ways — via direct deposit, debit card, prepaid card and P2P services — but many are not given options. percent said they would like to receive payments via direct deposit, while 24.0 This resulted in an average score of 56.5, The state of disbursements.

Zelle 43

Zelle P2P Venmo Direct Deposit 43

PYMNTS

MAY 3, 2018

In the May edition of the Disbursements Tracker , PYMNTS highlights some of the notable disbursement developments changing the way employees get paid, such as with digital escrow tools, and how borrowers, including small- to medium-sized businesses (SMBs), can access capital through their debit cards and instant deposit services.

Debit Card 51

Debit Card Push-to-Card On-Demand Payments 51

PYMNTS

OCTOBER 30, 2020

Employers might adopt push-to-card solutions that enable them to equip staff with prepaid debit cards, onto which earnings can be quickly disbursed, for example, while other companies may send salaries directly into payment apps. The demand for faster payments is ringing louder than ever during the economic downturn.

Faster Payments 59

Faster Payments Payments Tools RTP Same Day ACH 59

PYMNTS

JULY 24, 2018

billion debit, credit, prepaid and online wallet accounts, along with cash-out locations. percent) named direct deposit as their preferred disbursement method for recurring payments, with instant payments coming in as the second most popular method (22.4 percent who prefer getting paid via direct deposit and 22.4

Direct Deposit 40

Direct Deposit Instant Payments Push-to-Card Checks 40

Tearsheet

MARCH 27, 2024

Workers have the option to receive EWA funds at no cost within 1-3 days via ACH, or they can opt to have their direct deposit sent to a reloadable Visa debit card, named Friday by DailyPay. Alternatively, DailyPay charges a fee if employees choose to instantly send EWA wages to a card or account.

Instant Payments 64

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow 64

PYMNTS

DECEMBER 13, 2017

But others are pushing forward, particularly with respect to funds availability. The claim, then, can be, if using direct deposit with a given FI, recipients will get their money by a certain time. While same-day credits are great, debits can be of great value to FI business customers as well.

Same Day ACH 40

Same Day ACH ACH NACHA Payroll 40

PYMNTS

MAY 11, 2020

Some got it via direct deposit. Credit and debit transfers have been especially popular in Europe for sending funds to winners, for example. Online betting services in the region are now even exploring depositing such sums directly into digital wallet applications on users’ mobile devices.”. People want answers.

Online and Mobile Banking 52

Online and Mobile Banking Multi-Currency Digital Currency Federal Reserve 52

PYMNTS

MARCH 1, 2018

In recent weeks, some big names have joined the push to pay employees more quickly. Once payments are disbursed, cards can be used to make online and in-store purchases, withdraw funds from an ATM, transfer funds or pay bills. As such, this generation is driving a greater issuance of debit cards than credit cards.

Push-to-Card 40

Push-to-Card Financial Literacy Credit Cards Online and Mobile Banking 40

PYMNTS

MAY 29, 2020

Amazon made a big push into the automotive world, while Walmart doubled down on secondhand clothing sales. So the eCommerce giant certainly has both the scale and the capital required to push Zoox’s ambitious goals. It was a busy week in the race for the consumer’s whole paycheck, with lots to watch: Amazon . Zoox was valued at $3.2

Online and Mobile Banking 52

Online and Mobile Banking Push-to-Card Direct Deposit Debit Card 52

PYMNTS

MARCH 31, 2020

The attempt to head off those ugly things is what has caused something truly rare in the federal government — bi-partisan, concerted efforts to push disaster relief at a national scale. economy into a recession. There is a bright side to this situation, he said, and one that is important to keep in mind. Probably not. Probably not.

Economy 56

Economy Push-to-Card IRS ACH 56

PYMNTS

JULY 11, 2017

The service allows users to file claims through the company’s mobile app, and enables funds to be deposited directly into a traveler’s bank account or sent to a debit card. In fact, recent studies show travel rates are on pace to be higher than usual this year. percent increase from last year. The same AAA report found 3.44

Push-to-Card 40

Push-to-Card Debit Card Online and Mobile Banking Checks 40

PYMNTS

DECEMBER 5, 2017

Direct deposits, push payments, eWallets, same-day ACH transfers, PayPal, Zelle and myriad other platforms and tools are now second nature. The digital economy is here and, for many consumers, it has become a way of life. But, with this progress comes friction in the form of a payments patchwork. Supply and Demand.

Consumer 56

Consumer Same Day ACH C2B B2C 56

PYMNTS

JULY 24, 2017

An electronic deposit must go into one bank account — not two — and both parties must acknowledge acceptance — digitally — before that happens. In addition to its thousands of financial institution clients, Fiserv has built relationships and digital connections with thousands of corporates and billers.

B2C 40

B2C Checks Economy API 40

PYMNTS

AUGUST 22, 2016

Then, to get what’s in circulation off the street, he suggests that governments give consumers incentives to turn in those bills – so bring in a $100 bill and get more than its face value deposited to your bank account. He’d teach them about a variety of things going on in the world – science, math, archaeology, literature.

Checks 41

Checks CFPB Bitcoin Payments 41

Nanonets

JUNE 29, 2023

Gartner defines spend management as a set of practices that ensure that organizations make procurement and sourcing decisions in the interests of both the bottom line and company efficiency. Traditionally, spend management involved manual and error-prone processes, making it challenging to gain a comprehensive understanding of company spending.

Payment APIs and Integration 52

Payment APIs and Integration Online and Mobile Banking Automation Push-to-Card 52

M2P Fintech

MARCH 28, 2024

without requiring a traditional bank account or debit card. without requiring a traditional bank account or debit card. This technological approach eliminates the use of physical cards or PINs during financial interactions. Unlike physical cash or bank deposits, CBDCs are purely electronic.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59

PYMNTS

AUGUST 12, 2019

Senator Elizabeth Warren asks in a campaign ad, ignoring the fact that 93 percent of working Americans have their checks directly deposited into their bank accounts – ready for use on payday – using the ACH network. For most people, it has been a long time since they received a paper check that had to be deposited at the bank.

Real Time Payments 78

Real Time Payments FedNow TCH Fed 78

PYMNTS

APRIL 26, 2018

There was a lot going on during PayPal ’s quarterly earnings report yesterday (April 25), as the original “Pay” player managed to beat analyst expectations nearly across the board and even forecast a better-than-expected result for the rest of the year. PayPal does not want to be a bank. “I

Financial Inclusion 51

Financial Inclusion PayPal Underserved Push-to-Card 51