At the current rate of technology evolution and consumer demand, instant payments will soon take over, likely replacing legacy rails altogether.
Financial institutions and consumers want payments options that enable speed, convenience, confidence and lower costs. Fortunately, open banking and request for payment solutions already leverage real-time rails – both proving viability and demand.
As national payment infrastructures continue the move to instant payments, we predict payments rails will converge with real-time emerging as the dominant option. Download our point of view to explore how this convergence will benefit payers, payees and the providers that support them.
75% of consumers surveyed believe instant access to funds is important.
“Real-Time Payments: An Urgent Priority for Financial institutions,” Javelin, 2021