GlobalData: Global Real-Time Payments Report 2023

GlobalData: Global Real-Time Payments Report 2023

The next phase of real-time payments growth has arrived, with government intervention and value-added use cases driving global adoption, according to GlobalData’s 2023 Global Real-Time Payments Report.

Real-time payments are entering a new phase of growth. With many countries successfully launching coverage or request payment services, consumer adoption is rising, driving real-time traffic growth to record highs, led by India, Brazil and Bahrain. Successful real-time services are becoming ubiquitous and profoundly changing the way consumers, businesses and governments make and receive payments and transact financially.

Other countries are taking note of these success stories. Governments and regulators are likely to continue to exert pressure for the adoption of real-time payments, and in many markets and regions they are taking steps to drive greater adoption of real-time payments as they see it as a way to drive economic growth. The report shows that government mandates and incentives are key to the successful transformation of the payments ecosystem.

Targeted use cases are driving consumer adoption, with consumers and businesses around the world eager for cheaper, faster and more efficient ways to pay. Merchant adoption and acceptance of real-time payments is rising as more merchants realize the efficiency gains they can achieve.

Real-time payments are part of the digital proposition of modern financial institutions, ensuring competitiveness and increasing customer stickiness. This means that banks need to make the most efficient use of their real-time rails to avoid falling behind any competitors who adopt real-time payments and thus reap the benefits.


<<:  Counterpoint: Global smartphone market to decline 8% year-on-year in Q2 2023

>>:  Forward! Key points for caring for children at home after infection

Recommend

The thymus is an immune organ, so can thymosin improve immunity?

In daily life, we often see advertisements for pr...

What causes abdominal pain after childbirth?

Many women think they are free after giving birth...

How are your breasts during early pregnancy?

In the early stages of pregnancy, women's bod...

What are the benefits of eating lamb ribs? How to make lamb ribs delicious?

Lamb scorpion, the main material is the complete ...

How can I have a miscarriage during pregnancy?

If women get pregnant unexpectedly, it is very pa...

What are the early symptoms of cervical nabothian cyst

There are many early symptoms of cervical nabothi...

The representative of proton pump inhibitors - esomeprazole has something to say

In recent years, proton pump inhibitors have been...

How can I stop my period?

We all know that for women, menstruation is both ...

How many days is the best for women to have medical abortion?

Medical abortion is a very common method of abort...

The luteal phase is the day of the menstrual cycle

Although many women start to have their periods a...

Uterine fibroids 6cm pregnancy

Uterine fibroids are a common type of tumor among...

How long is the best time to have an abortion?

Many people get pregnant accidentally. When an un...

Chen Jian: How can you eat hyaluronic acid which is used for beauty purposes?

Professor Chen Jian Academician of the Chinese Ac...