NEW YORK—A new study shows that in the healthcare sector, small and medium-sized businesses (SMB) have increasingly turned to real-time payments for account-to-account transfers, revealing a surge in activity when compared to credit cards and checks over the past year.
Real-time payments are the preferred choice for 83% of SMB healthcare providers, outshining any individual payment method in terms of usage, the PYMNTS study found.
Thirty-eight percent of healthcare provider SMBs identified a real-time payment method as their primary payment rail with instant bank account-to-account payments topping the list at 15%, closely followed by instant PayPal at 13%, Tear Sheet noted in its analysis.
‘Greater Propensity’
According to the report, healthcare provider SMBs exhibit a greater propensity to adopt a real-time payment system as their primary payment method “when they are affiliated with a national or regional bank, rather than a local bank or credit union.”
“This inclination is particularly pronounced for national banks, with 55% of healthcare provider SMBs opting for a real-time payment rail, followed by 38% for regional banks, and a mere 24% for local banks and CUs,” Tear Sheet added.
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