Today in PYMNTS data, the kiosk market is seeing continued growth and proliferation, the Equifax breach impacted more U.S. individuals than previously reported, corporate disbursements are still made through paper checks, small and medium-sized businesses (SMBs) have expressed optimism about accessing loans from the financial services sector and FinTech sees a rise in venture capital (VC)’s expected compound annual growth rate (CAGR).
Here are the numbers:
$1 billion | Expected value of the overall kiosk market by 2021, according to PYMNTS’ most recent Kiosk and Retail Report, a USA Technologies collaboration. The report studies trends in the unattended retail category, especially kiosks’ rise across many industries.
147.9 million | Number of U.S. individuals whose data was exposed in the 2017 Equifax data breach, up 2.4 million from original estimates. That’s a lot of compromised data, of course, and Equifax has taken steps to stanch some of the bleeding of personal information by forging new pacts used for identity verification.
27 percent | Portion of corporate disbursements that are still made through paper checks, according to the inaugural PYMNTS Disbursement Satisfaction Index’s findings. Drilling down a bit, 61 percent of insurance firms and 93 percent of law firms use paper checks for disbursements.
91.7 percent | Percentage of small businesses that expressed optimism about accessing loans from the segment of the financial services industry in Q1 2016, according to a study by alternative financial firm deBanked and investment bank Bryant Park Capital. The report assessed confidence in the merchant cash advance industry and, of the lenders analyzed — which primarily offer merchant cash advances — researchers calculated a 56 percent CAGR and a combined loan originator volume of $1.9 billion.
47 percent | CAGR of VC funding across the global FinTech market between 2010 and 2017, which hit $97.7 billion. According to Julian Skan, senior managing director of Accenture Financial Services, “This volume of investment reflects the soaring demand within financial services for new digital innovation as these technologies prove their value and applicability in the market. That will continue to position FinTechs for a vital role in helping reshape the financial services landscape.”