Following the publication of our Faster Payments: What Consumers Want From Businesses in 2019 study, Fintech Finance asked to learn more about our research. Jennifer Worley, our VP of Product and Marketing, agreed to provide an overview of the study’s findings. Worley sat for a short video segment, aired as a part of Fintech Finance’s “Fintech TV.”
In the interview, Worley described the hypothesis behind the study- an observation that the pace at which financial technology is being introduced to market is largely being matched by consumer demand. “As the industry is moving toward digital, the consumers are adopting that technology,” Worley said.
Extrapolating from the research, Worley added that, “the demand in the consumer space for faster payments is translating over into the business world,” too. Consumers have, in many ways, led the push for faster payments. In 2019, over $300 billion were transferred by digital means via peer-to-peer technology like PayPal, Venmo and Zelle.
This trend toward faster peer-to-peer payments has translated into similar demands being made on businesses disbursing payments. The Faster Payments study research bears out this notion. Worley said that the study uncovered a sizable “demand for faster payment options in the business environment.”
Catch the full video interview here.