Data Shows Increase in Electronic Payments by Consumers After Receiving Stimulus Check Direct Deposits

Recent data released by PayNearMe shows some trends in where consumers were sending payments after the government began depositing CARES Act stimulus checks in consumer's bank accounts. Using its payment platform, PayNearMe tracked what categories of payments consumers have been making over the past couple of months. 

According to the data, the biggest jump in payments after stimulus checks were depositied went to rent and loans, with a slightly smaller—but still significant—jump in utility payments.

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