Digital and mobile technologies continue to redefine consumer expectations for convenience and real-time service. In response to the growing need for quick access to cash, a host of fee-based, immediate funds-availability solutions have emerged.
Check-cashing centers, payday lenders, retailers, mobile wallet and prepaid providers and telecommunications companies are vying for their share of the market – yet most consumers say they would prefer to use an immediate-funds service offered by their own financial institutions.
The need for immediate funds access resonates across all small business and consumer segments. A Fiserv study of check-cashing behaviors found 4 in 10 consumers are interested and willing to pay for immediate funds and are, in fact, already using check-cashing outlets for this purpose.Download