Homeowners paid contractors more in 2025 than in the prior year, according to new transaction data from iWallet.
An analysis of payments processed through the iWallet platform shows total homeowner payments rose from $18.75 million in 2024 to $21.37 million in 2025, an increase of nearly 14 percent. The data is drawn from a year over year comparison of the top 100 contractors using the platform gathered by the iWallet team.
Direct payments to contractors also increased. Total homeowner tips, a proxy for discretionary and add on payments, grew from $294,725 in 2024 to $316,154 in 2025, a rise of just over 7 percent. Tips as a share of total payments increased from 17.86 percent to 19.31 percent.
“These numbers line up with what contractors tell us every day, homeowners are approving bigger scopes of work, and they want to pay in a way that is fast, trackable, and professional,” said Jim Kolchin, CEO of iWallet. “When you make it easy to pay, you get paid, and you see the true size of the market in the numbers.”
The increase in payments came despite a slight decline in total transactions on the platform, indicating higher average payment amounts per job rather than simple volume growth.
The data came from iWallet customers using the service to pay contractors, HVAC technicians, and general home improvement specialists. The data reflects payment behavior across home services categories including repair, renovation, and maintenance, and is based on anonymized transaction data from iWallet’s contractor network. The company took a random sample of 1,000 anonymized invoices paid through the system to produce these results.
iWallet® is the Financial Operating System for the $650B U.S. home services industry. Built for HVAC, plumbing, appliance repair, and other field-service businesses, iWallet digitizes payments, contracts, and financing at the point of service. The company operates across all four stacks of the ecosystem — distributors, OEMs, contractors, and consumers — with more than $1 billion in committed payment volume. iWallet is cash-flow positive, bootstrapped, and growing 3× annually. Founded by serial entrepreneur Jim Kolchin, iWallet is headquartered in San Francisco, CA. Learn more at www.iwallet.com.