Room for One More? Global Real-Time Pay-by-Bank Lessons for the U.S.

Pay-by-bank solutions go by a lot of names—bank transfer, bank-to-bank transfer, direct account payment, direct debit, and more—but one thing is clear: When account-to-account payments are ubiquitous, interoperable, and instant, as is the case in places like Brazil, India, and Thailand, they thrive. Consumers find them easy to use, and merchants are drawn to their lower costs. In markets where payment cards are more entrenched, such as the United States, the rate of adoption is much lower. 

This Javelin Strategy & Research report looks at how real-time pay-by-bank methods have become entrenched in various countries, the use cases representing the highest potential for growth in such payments, and the barriers and opportunities for the payment type in the United States.

Key questions discussed in this report: 

• What are the key drivers for real-time pay-by-bank payments in global markets? 
• What are the critical barriers preventing adoption of real-time A2A payments? 
• What global lessons can be applied to ignite real-time A2A payments in the United States?

Companies Mentioned: 

ACH, Apple Pay, Bangkok Bank, Bank of America, Bank of Thailand, Capital One, Central Bank of Brazil, CFPB, Early Warning Services, Faster Payments Council, FedNow, Fiserv, Google Pay, HSBC, J.P. Morgan, Kroger, Mastercard, National Payments Corporation of India, PayPal, Paytm, PhonePe, Pix, PNC Bank, PromptPay, Reserve Bank of India, RTP, Shopee, Sunoco, Swish, Venmo, Truist, Trustly, Unified Payment Interface (UPI), U.S. Bank, U.S. Department of the Treasury, Verizon, Walmart, Wells Fargo, Zelle