Most consumers want payment services from their primary financial institutions.
Offering real-time payments can increase convenience and help consumers better manage their financial lives, according to a study released by FIS.
The report also reveals that consumers look to their primary financial institutions as the first choice for real-time payment services.
The study gauged consumer sentiments about the ability to instantly authorize and settle transactions in four key market groups: outbound foreign money transfer users, account-to-account (A2A) transfer users, person-to-person (P2P) payment users, and online bill payers.
The study sought to better understand the challenges consumers face with payments and how real-time payments can solve them. It also examined how real-time payments influence how consumers choose payment methods.
Overall, the study underscored that real-time payments resonate with consumers and that the immediate availability of funds is very important, both from a sender and a receiver perspective.continue reading »