How Instant Payments Are Changing the Way Businesses Pay

In today’s fast-moving economy, waiting days for a payment to process is no longer an option. Instant payments give companies the ability to send money to vendors, suppliers, and contractors almost immediately.

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Faster Payments Build Better Relationships

Instant payments do more than speed up transactions. They help businesses build stronger relationships with the people and companies they rely on. Quick disbursements reduce friction, support ongoing work, and show reliability.

Consumers and businesses alike are increasingly relying on instant payments. According to a PYMNTS Intelligence report in collaboration with Ingo Payments, 41 percent of consumers now receive funds through instant methods like Zelle, debit card transfers, or digital wallets. In 2018, that number was just 11 percent.

Gig workers, truckers, and tipped employees are driving this shift. In the gig economy, 55 percent of large businesses are required to send more than 30 percent of their ad hoc payments urgently. Ninety-seven percent of those payments are marked urgent by the sender.

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How Instant Payments Drive Industry Efficiency

In industries like trucking and transportation, instant reimbursement is essential. Independent contractors often cover large upfront costs, such as fuel, and need fast payouts to stay on the road. Nearly half of transportation companies used instant payments last year.

In hospitality, 96 percent of tip payouts are considered urgent. Service workers expect quick access to their earnings, and businesses are adapting to meet that need.

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Why Speed Matters to Businesses

Speed matters for senders too. Businesses with high urgency needs are more likely to use instant payment options. Among companies that send at least 30 percent of their ad hoc payments urgently, 100 percent used instant methods for consumers in the past year, and 77 percent used them for small businesses.

These companies are also willing to pay more for speed. Seventy-nine percent paid fees to send instant payments, and 54 percent said they would pay a premium if vendors required upfront payment to deliver goods or services.

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The Future of Instant Payments

By 2028, nearly half of all enterprise senders plan to use instant payments for all non-payroll purchases. That number jumps to over 60 percent for businesses with high urgency needs. Instant payments are no longer a nice-to-have feature. They are becoming a core part of how modern businesses operate, compete, and grow.

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