The Gig Economy Leads Demand for Instant Ad Hoc Payments

Instant Payments: A Strategic Tool for Vendor Relationships and Urgent Transactions

Businesses with a high need to make one-off disbursements urgently are five times more likely to use instant payment methods, with the gig economy showing the highest demand for immediate payouts. PYMNTS Intelligence’s latest report, “Instant Payments: A Strategic Tool for Vendor Relationships and Urgent Transactions,” a collaboration with Ingo Payments, details how adopting instant payments can be a critical tool for fueling operational efficiency and retaining vendors.

Inside the April Study
  • 100%: Share of senders making 30% or more of their ad hoc payments urgently that sent such payments to consumers instantly at least once
  • 97%: Portion of payments due to gig workers and companies that provide fuel to trucking companies that need to be sent urgently
  • 54%: Share of senders with high payment urgency needs who would pay a higher fee to remit instantly if a vendor refused to deliver before payment is made

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    Instant Payments Report

    Digital Transformation and Instant Payments Fuel Business Disbursement Efficiency
    The 12 Impact Statements eBook
    How Instant Ad Hoc Payments Benefit Digital-First SMBs
    How Instant Pay Is Becoming the Standard for Ad Hoc Payments
    Meeting Consumers’ Urgent Need for Funds with Instant Payments
    Generation Instant: Growing Use of Instant Pay for Insurance Disbursements
    Generation Instant: Leveraging Instant Pay to Streamline Borrowing Disbursements
    Generation Instant: How Instant Payments Help Consumers Receive Overpayment Disbursements Faster
    Generation Instant: Freelancers Use Instant Payments to Reduce Financial Hardship
    Generation Instant: How Truckers Use Instant Payments to Support Their Lifestyles
    How Instant Ad Hoc Payment Costs Impact Small SMBs
    Meeting the Demand for Instant Ad Hoc Payments
    Measuring Consumers’ Growing Interest in Instant Payouts - March 2024
    How Instant Ad Hoc Payments Drive SMB Success
    Generation Instant: Renters and Refunds
    Generation Instant: Business Expense Reimbursements
    Streamlining Ad Hoc Payments With Instant Pay
    Measuring Consumer Satisfaction With Instant Payouts
    Generation Instant: Gaming and Winnings
    Generation Instant: Hospitality and Tips