Today In Data: The Best Time Is Real Time

31. July 2018.

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For businesses, workers and consumers all over the world, the best time for a payment is right now – if at all possible. Unlocking faster payments has an undeniable effect, as Tipalti has seen very quick adoption since rolling out an early payment option with Vindeo. But faster and real-time payments are challenging, particularly for the banks and FIs that are still struggling to fit them into regular service offerings, not to mention the considerable challenge of securing all that sensitive data — faster payments can just add up to faster fraud. On top of all that, there is consumer preference to account for, in all of its fickle variations.

Data

2 billion: Number of instances of stolen identities in 2017.

73 percent: Share of younger (18 – 24-year-old) customers who report liking shopping in physical stores.

65 percent: Share of international merchants interested in accepting real-time payments.

40 percent: Share of Tipalti suppliers that have accepted early payments.

35 percent: Share of U.S. banks that are unsure of how much to charge for real-time B2B payments.

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