The global value of real-time compensation is projected to reach $34.3 billion over the next five years, according to the July Disbursements Tracker.
The rising demand for real-time disbursements isn’t just the purview of B2B transactions, cross-border payments or the gig economy — it’s also coming from industries like retail, restaurants, entertainment and even insurance.
The growth in online shopping means more shoppers need refunds on returned merchandise. Nearly 30 percent of online purchases are returned — a rate that’s three times less for physical purchases. And because of Amazon’s automated returns process, customer expectations around speed and convenience have also been growing.