Thursday, November 14, 2019
View ShowroomSIOUX FALLS, S.D., /PRNewswire/ -- Companies that leverage faster payments for consumer disbursements could see valuable business returns, according to a new MetaBank® study. Those companies that pay consumers via paper check should take note: consumer preferences are shifting toward alternative payment options for the payment of rebates, refunds, credits, insurance benefits, tax refunds and more.
These are among the actionable insights identified in MetaBank's research, Faster Payments: What Consumers Want from Businesses in 2019, which was announced today. MetaBank is a wholly-owned subsidiary of Meta Financial Group, Inc.® (NASDAQ: CASH) ("Meta") and a leader in delivering innovative payment, financing and banking solutions to partners throughout the country.
"Consumers are demanding seamless, faster payments across the board. Companies would be well served by offering this innovation to their customers," said Sheree Thornsberry, Meta EVP and Head of Payments. "Faster payments meet consumer demand while providing the opportunity for business growth. It can be a cost effective addition, too, as many consumers would be willing to pay a small fee to receive faster payments."
Faster Payments: What Consumers Want from Businesses in 2019 examined consumer preferences for receiving payments from businesses and is based on the responses of more than 1,200 U.S. adults. Key trends from this research are included below. An infographic summarizing this research is available here.
Click here to download the complete Faster Payments: What Consumers Want from Businesses in 2019 infographic.
Meta recently launched its faster payments platform, which enables its partners to disburse funds in near real-time. As a leading issuer of payments services, its suite of solutions includes Mastercard Send, ACH origination, wire transfers and more.
Meta is a leader in providing innovative financial solutions to consumers and businesses in under-served niche markets, and believes in financial inclusion for all. Meta works with high-value niche industries, rapid-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. MetaBank is one of the largest issuers of prepaid cards in the U.S., having issued more than a billion cards in partnership with banks, program managers, payments providers and other businesses.
About Faster Payments: What Consumers Want from Businesses in 2019
2019 Study of Consumer Payments Preferences is an internet-based survey conducted independently by YouGov on behalf of MetaBank in May 2019.The sample size included 1,214 U.S. adults ages 18+. The figures have been weighted and are representative of all U.S. adults (aged 18+).
About Meta Financial Group, Inc.®
Meta Financial Group, Inc. ® (Nasdaq: CASH) is the holding company for the financial services company MetaBank® ("Meta"). Founded in 1954, Meta has grown to operate in several different financial sectors: payments, commercial finance, tax services, community banking and consumer lending. Meta works with high-value niche industries, strategic-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta tailors solutions for bank and non-bank businesses, and provides a focused collaborative approach. The organization is helping to shape the evolving financial services landscape by directly investing in innovation and complementary businesses that strategically expand its suite of services. Meta has a national presence and over 1,200 employees, with corporate headquarters in Sioux Falls, S.D. For more information, visit the Meta Financial Group website or LinkedIn.
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