Instant payments are having a moment.
Released last week, Zelle’s Q3 results show that its year-over-year payment values rose by 58 percent, while transaction volume increased by 73 percent. During the quarter, $49 billion was sent through the Zelle Network on 196 million transactions.
In the 2019 Disbursement Satisfaction Report, PYMNTS surveyed more than 5,000 U.S. consumers about whether they have received disbursements, the types of institutions from which they received them and how they would like to receive them if they could choose.
Adoption Soars
Consumers’ instant payments adoption has increased nearly fourfold over the past three years, with 42 percent reporting they received at least one such payment this year compared to the 11 percent who said the same in 2017.