Complete Story
 

01/04/2022

Real-Time Payments Expected to Double in 2022

PYMNTS.com

Streaming media, on-demand encounters with service providers and all manner of instant interactions online have shaped expectations about how we pay and get paid — and when.

Elena Whisler, senior vice president at The Clearing House (TCH), told PYMNTS in an interview that real-time payments volume will soar in the new year and beyond.

PYMNTS’ research found that real-time disbursements accounted for 17% of all disbursements made in 2021, up from 5.7% last year. Along with the growth in electronic payment methods, she said, “growth is coming from the availability of more real-time methods for businesses. More financial institutions are enabling the offerings as well.”

Paying Wages Faster

Companies are also increasingly opting to pay their employees in real time, partially reflecting a shift toward the gig economy and project-based work. But companies with more traditional workforces can leverage TCH’s RTP network to their strategic advantage as well, Whisler said.

Read more...

Printer-Friendly Version


Resources

Alerts

The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.

more information
Resources

Resources

Your electronic library to help in fighting financial fraud for all of our partners.

more information