Debit card and ACH payments skyrocketed to nearly 50% above expectations days after the stimulus program direct deposits began.
Cash Payments See Modest Boost
Cash payments saw a modest bump, as some consumers may have converted their direct deposits into cash. For the unbanked and those without electronic deposit, we believe total impact from the stimulus program can not yet be seen.
Hear the breakdown on the AFSA Extra Credit Podcast
*Analysis of a statistically significant sample of millions of bill payments made by U.S. consumers through the PayNearMe network between March 1 and April 17.
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