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Mexico
Mexico was an early adopter of real-time payments in Latin America, with its Sistema de Pagos Electrónicos Interbancarios (SPEI) system having been in place since 2004.
- real time
- Banking
Colombia
In the forecast period of 2023 to 2028, Colombia is the second fastest growing in the region after Peru in terms of real-time payments volume, with an expected CAGR of 42.6%.
- real time
- Banking
Canada
Adoption and use of real-time payments have gained traction steadily over the last few years, thanks to the wider participation by more than 280 financial institutions as of January 2024 and continued preference for electronic payments among consumers.
- real time
- Banking
Taiwan
Real-time payments volume share is expected to reach 10.3% by 2028, as the use cases for real-time payments in the country continue to focus on high-value, low-volume payments such as P2P and bill payments.
- real time
- Banking
Italy
Despite the head start and wide participation from banks and payment service providers, the growth in adoption and use of instant payments has been slow due to the high preference for cash.
- real time
- Banking
South Africa
South Africa is among the global early adopters of real-time payments, having launched its interbank instant payments system Real-Time Clearing (RTC) in 2006.
- real time
- Banking
Australia
By 2028, real-time payments are expected to account for 9.5% of overall transactions by volume.
- real time
- Banking
United Arab Emirates
Currently, real-time payments account for only a 1.5% share of total payments transaction volume, but this is expected to increase to 3.6% by 2028.
- real time
- Banking
Germany
In 2023, instant payments accounted for a 3.5% share of total payments volume, whereas other forms of electronic payments represented 66.6% and paper-based payments 29.9%.
- real time
- Banking
Spain
Instant payments are set to see a CAGR of 29.6% from 2023 to 2028. Consequently, the share of instant payments of the total payments volume is expected to increase from 2.3% in 2023 to 7.7% by 2028.
- real time
- Banking
France
In 2023, instant payments represented only a 0.7% share of the total payments volume, as the payments industry in France is dominated heavily by card and traditional batch transfer payments.
- real time
- Banking
Saudi Arabia
Still at a nascent stage, the outlook for real-time payments in Saudi Arabia looks promising, with volumes expected to record a CAGR of 24.6% from 2023 to 2028.
- real time
- Banking
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