2024 Faster Payments Report
Faster payments global trends and behaviors
Get unparalleled faster payment global insights and end-to-end use cases with this complimentary report. Learn how the world’s top countries are using real-time payments to solve real-world challenges.
- Analysis of 51 Markets
- Top Real-Time Use Cases
- Forecasting and More
See how faster payments have expanded globally
A momentous shift is happening in faster payments as countries begin to connect and expand payment options, creating end-to-end customer journeys that are finally delivering on the bigger promise of moving value fast, at scale and at lower costs.
For the first time, the 2024 Prime Time for Real-Time report includes a deep dive into five real-time payment markets that are leading the way in faster payments adoption, giving you key insights into their global economic impact.
Access the report to explore:
- Real-time, account-to-account faster payment volumes and forecasts across 51 markets
- How faster payment solutions benefit the entire transaction ecosystem from banks and providers to merchants and consumers
- The impact of the pan-European SCT Inst scheme; new central-bank-driven initiatives in the Middle East, Africa and Asia Pacific; the FedNow® Service and RTP from The Clearing House in the U.S.; Brazilian PIX and more
- How faster payment networks deliver real-life advantages that go beyond greater convenience and choice to act as a catalyst for economic growth and financial inclusion
The prime time for real-time is now. What are you waiting for?
42.2%
growth in global real-time transaction volumes
$575.1 Billion
estimated real-time transaction volume by 2028
19.1%
of all electronic transactions in 2023 were real-time
Faster payments snapshot — Global summary
Markets moving to maturity as 2023 reaches a record-breaking high
Faster real-time payments accounted for 266.2 billion transactions globally in 2023, a year-over-year (YoY) growth of 42.2%. This shift toward more sustainable growth levels is as expected as countries move beyond early adoption to maturity.
The power of collaboration between governments, regulators, banks and fintechs is finally bearing fruit, resulting in wider domestic reach and exciting new use cases. Merchants and consumers are now embracing real-time payments through apps, QR codes and mobile wallets.
Markets where faster payments are mainstream have knowledge to share
With regulatory frameworks being established, and the demand for faster payments increasing, collaborative ecosystems have emerged to drive powerful use cases that revolutionize businesses and enhance daily lives.
The success of real-time systems like India’s UPI and Brazil’s PIX shows that consumers and merchants are ready to take advantage of real-time benefits — faster settlement, lower risk than cash and better liquidity than cards.
Closing the gap to real-time ubiquity
In every corner of the world, faster payments are now in regular use — moving value at scale and at low cost. In 2023, just under one-fifth of all electronic payments globally were real-time, and by 2028, it will be more than one-quarter.
This year’s report confirms that faster payments are now an integral part of the global payments mix, and as more markets go mainstream, they should now be acknowledged as a cornerstone for all strategies targeting financial inclusion and economic gain.
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Stay ahead of faster payments adoption
Learn how banks, payment service providers, merchants and consumers benefit from faster payments across 51 markets.