Real-Time Payments 2013: Struggling Toward Revolutionary Change

With the expansion of electronic and mobile commerce, consumers and businesses have broadened their expectation of “always on” immediacy to incorporate payments. No longer is two-day or even next-day payment or funds movement adequate when there are many situations demanding payments posted or settled on the same day. As environmental changes like mobile transacting, comprehensive risk management, and cross-channel integration continue to evolve, the move to real?time posting — and ultimately, settlement — will become increasingly essential. This report reviews a number of emerging real-time payments initiatives that will drive the market forward to revolutionary change.

Primary Questions:

• What real-time payment and transfer initiatives are available in the market today?
• Which payment and transfer applications are most in need of real-time solutions?
• What functionality defines real-time transacting today?
• How can existing capabilities and networks be leveraged to build real-time access?
• What market indicators promote the expansion of real-time transacting?
   

• This report was drawn primarily from interviews with networks, processors, and vendors that are active in the U.S. market.