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Generation Instant: How Instant Payments Help Consumers Receive Overpayment Disbursements Faster

June 25, 2024

Overpayment disbursements are when an individual is owed a refund due to accidental overpayment. though not the most common or largest payouts, overpayment disbursements are significant in terms of consumer satisfaction.

Here are some stats to shed light on the matter: just 7.1% of consumers report they received overpayment disbursements this year. The average overpayment disbursement is just $68, compared to $433 for the average disbursement. Still, many consumers (up to a whopping 80%) expressed a preference for instant refunds, while 54% of consumers report not having a choice in their payment method.

Our new report, “Generation Instant: How Instant Payments Help Consumers Receive Overpayment Disbursements Faster,” based on a survey of 3,898 U.S. consumers and made in collaboration with PYMNTS Intelligence, delves into the growing demand for instant refunds, rebates, and rewards. It highlights that 11% more consumers use instant methods for overpayment refunds compared to the average disbursement. The use of instant payment methods for overpayment disbursements has increased by 16% from the last quarter, with 36% of consumers receiving their refunds this way. While in general, our report underscores the importance of instant payments in meeting consumer demands for faster financial transactions, further insights can be gained from taking a deeper dive into the report itself.

Download the full report.

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Generation Instant: How Instant Payments Help Consumers Receive Overpayment Disbursements Faster