Catching Up With Faster Payments

The push for real-time payments is gaining momentum in the United States, but the share that’s shifting to such payments remains minimal. By taking cues from the success of real-time payments in other global markets and creating expanded business use cases, the providers of real-time payments have a shot at boosting the U.S. uptake. 

This report provides readers in banking, payments, and payments networks with an overview of instant payments' adoption trends, market dynamics, and emerging opportunities, particularly for B2B transactions. It compares global growth trajectories with trends in the United States market, highlighting how instant where instant payments are growing rapidly and the forces driving this growth. Key insights include lessons from markets like India and China, where consumer adoption catalyzed broader commercial use. The report also looks at the potential role of card networks in facilitating real-time transactions. It will give professionals a better understanding of the trends in real-time payments adoption in the United States and abroad and insights into how lessons from other markets can be applied here. 

Key questions in this report:

• How fast are instant payments growing in the United States and what is their share of volume and value of payments?
• How does this growth compare with other markets that have adopted instant payments, and what factors have affected different rates of growth and share shift?
• What lessons can be drawn from other markets for instant payments in the United States?

Companies Mentioned:

Alipay, FedNow, Mastercard (Mastercard Send), Swift (Swift GPI), The Clearing House (TCH), Visa (Visa Direct), Vocalink, WeChat Pay, Zelle