Payments
As innovation continues in the payments space, consumers have a wide array of options for spending and receiving money instantly. Yet these tools remain out of reach for millions of underbanked consumers, while many more struggle with inefficient and costly access to their money. The Financial Health Network has long been working to answer these challenges and make accessing funds frictionless for everyone.
Understanding Payments and Financial Health
In our payments work to date, the Financial Health Network has uncovered several key findings:
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A robust, high-quality payments system is important for helping people manage day-to-day finances, so they can weather financial shocks and pursue long-term goals.
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Delays in receiving access to funds, such as wages, pose financial challenges for many people and businesses.
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As many companies move toward prepaid technology or cashless environments, providers must consider how to expand access to include the underbanked.
Data Spotlight

Why Payments Matter to Providers
Many consumers don’t have a sufficient financial cushion to wait days for checks to clear or to absorb hefty overdraft and processing fees. By developing new, more inclusive transaction capabilities, providers can differentiate themselves and deepen customer loyalty. Beyond financial services, many other industries are recognizing they have an important role to play in making payments more accessible and affordable for their customers and employees.

How We Can Help
Through research and industry innovation, the Financial Health Network is working toward a frictionless payments system for all consumers. Our Compass Principles define standards for emerging payments technology, such as prepaid options, to help people connect more easily with their own money.
Explore All Related Research
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Credit Union Technology Watch: 5G Networks
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The Hidden Costs of Bill Pay Report
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Webinar: Solving the Cash Crunch: Helping Small Businesses Access Check Funds Faster
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Solving the Cash Crunch
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Making Payroll Cards Work for Employees
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2017 Financially Underserved Market Size Study
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Amy Cox Household Profile: Living Paycheck to Paycheck
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The Financial Health Network Comment Letter on Proposed Amendments to Rules Concerning Prepaid Accounts
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2017 Payroll Industry Scorecard
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Global Financial Health Framework
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Compass Principles: Transaction Product Examples
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2016 Financially Underserved Market Size Study
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Financial Solutions Lab Snapshot: Innovations in Helping Consumers Weather Financial Shocks
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Dispatch from D.C. — September 2016 – Full Report
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Dispatch from D.C. — September 2016 Executive Summary
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2016 Prepaid Industry Scorecard
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Competing on Financial Health: How Credit Unions can Win the Gen Y Market
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“PayGoal” by Neighborhood Trust Financial Partners
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Dispatch from D.C. – 2016 Outlook
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2014 Underserved Market Size: Financial Health Opportunity in Dollars and Cents
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Dispatch from D.C. — December 2015
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Prepaid Cards and the Financially Struggling Majority
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“LIFT-UP” by National League of Cities
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Checking Accounts and the Financially Struggling Majority
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The Financially At Risk, a Consumer Financial Health Segment
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The Financially Unengaged, a Consumer Financial Health Segment
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The Financially Tenuous, a Consumer Financial Health Segment
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The Financially Striving, a Consumer Financial Health Segment
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Dispatch from D.C.—August 2015
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The Financial Health Network Comment Letter on New York State Department of Labor Payroll Debit Cards
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Mateo And Lucia Household Profile: Thriving But Still Vulnerable In The U.S.
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Consumer Financial Health Study
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The Financial Health Network Comment Letter on the CFPB’s Proposed Rules on Prepaid Cards
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Dispatch from D.C. — March 2015
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Infographic: Improving the Financial Capability of Goodwill Employees
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The Compass Guide to Payroll Cards
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2013 Financially Underserved Market Size
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Beyond Check-Cashing
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Elena Navarro Household Profile: Getting Through A Tough Year
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Prepaid Industry Scorecard: Assessing Quality in the Prepaid Industry with the Financial Health Network’s Compass Principles
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Infographic: 2013 Financially Underserved Market Size
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Financially Underserved Market Size Study 2012
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Fresh Ideas for an Emerging Market: Highlights from the 8th Annual Underbanked Forum
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Investment Activity in Fintech for the Financially Underserved
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Redstone Federal Credit Union: Thinking Outside the Branch
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The Financial Health Network Comment Letter on CFPB’s Notice of Proposed Rulemaking Regarding Electronic Fund Transfers
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Lauren Walker Household Profile: Getting By With Limited Resources
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Rita Douglas Household Profile: Getting By With Help from Friends
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The Johnson Family Household Profile: Working Hard but Still Struggling
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The Hossains Household Profile: Adjusting to a New Life in the US
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Mike Smith Household Profile: Keeping Control by Relying on Cash
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The Adrians Household Profile: Relying on Erratic Income Sources
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H&R Block – From Tax Prep to Tax Plus
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Financial Technology Trends in the Underbanked Market
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Piggymojo: The Thrill of Impulse Savings
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Double Duty: Payments Cards as a Doorway to Greater Financial Health
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The Financial Health Network Comment Letter on CFPB’s Trial Disclosures
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Sunrise Community Banks: Navigating the Learning Curve
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Centris: Using Technology to Build Relationships
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Regions: Designing with a Fresh Eye: A Case Study in Meeting More Customers’ Needs
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Nexxo Provides Next-Generation Bank-in-a-Box
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Meta: Promoting Better Understanding of Prepaid Card Use
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AARP Foundation Equips Older Consumers With Financial Know-How
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2011 Underbanked Market Sizing Study
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Plastyc: Good Banking for All
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National Community Tax Coalition (NCTC) Case Study
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The Compass Guide to Prepaid
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Infographic: Compass Guide to Prepaid
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The Financial Health Network Proposes a Model Fee Disclosure Box for Prepaid
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Improving Consumer Outcomes Through Better Disclosure for Prepaid Cards
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The Financial Health Network Comment Letter on CFPB’s Prepaid Card Regulation
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New Underbanked Market Data from Core Innovation Capital and the Financial Health Network
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The Financial Health Network Mobile InBrief
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Reaching Underbanked Consumers Through Mobile Services
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Prepaid Cards and Consumer Protections
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The Future of Financial Services
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Results from the Financial Health Network’s Inaugural Industry Scan
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The Financial Health Network Third Secured Credit Cards InBrief
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The Financial Health Network Second Secured Credit Cards InBrief
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Employer-Based Collaboration: Lessons from Financially Fit Minnesota
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One Size Does Not Fit All: A Comparison of Monthly Financial Services Spending
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InBrief on the Underbanked Consumer Study: Characteristics of Latino Un- and Underbanked Consumers
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Fully Reporting Nonfinancial Payment Data – PERC Research
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Preferences and Usage of Financial Services Providers inBrief
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The Financial Health Network Underbanked Consumer Study Fact Sheet
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Nonprofit Distribution of Prepaid Cards
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Distributing Prepaid Cards Through Worker Centers: A Gateway to Asset Building for Low-Income Households
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Reaching Deeper: Using Alternative Data Sources to Increase the Efficacy of Credit Scoring
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Financial Services in the Workplace: Using Intermediaries to Achieve Long-Term Value
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Expanding Financial Services to Underbanked Consumers
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Unbanked to Homeowner
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Stored Value Cards: Challenges and Opportunities for Reaching Emerging Markets
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Retailers as Financial Services Providers: The Potential and Pitfalls of This Burgeoning Distribution Channel
Connect With Thought Leaders
Interested in connecting with the Financial Health Network for a media interview, speaking opportunity, research or consulting request? Reach out and we’ll connect you with the right payments expert.
Additional Research Topics
Financial health depends on a complex set of factors and circumstances. That’s why the Financial Health Network produces research in a variety of areas impacting our financial lives.