The PYMNTS-Ingo Money Disbursement Satisfaction Index™ is an impressive research document summarizing payments. If you’re a banker, product manager, solution provider, or anyone interested in payments, the 2,243 data points might interest you!
There is certainly an anti-check tone to the initial sections, but overall the data is very interesting. Check out pages 8-21 for a variety of demographics. There are a number of charts and data points related to the disbursement mix which consumers experience as well as gender and age preferences.
A few pro-check points include:
22 trillion | Dollars worth of payments using paper checks written each year
750 | Average value of disbursements paid annually via paper checks in USD
62 | Percent of respondents were very or extremely satisfied with their check disbursement (Table 10)
30 | Percentage of people who received non-government disbursements through paper checks
As the battle for payments continues, a growing economy should drive more business and consumer-to-consumer payments — which should be good for all of us!