Billions of dollars are caught in non-real-time ACH money transfers across the globe every day, according to ACI.
In a recent survey of 120 financial industry professionals by ACI Worldwide, it revealed that market experts believe real-time ACH payments will become a reality in the U.S. within the next two years.
“When you look at payment innovation ranging from EMV to real-time, single message payments, the U.S. has been playing catch-up to many other developed markets,” said Matt Ellis, Senior Vice President, ACI Worldwide. “But as our data shows, the industry is positive that we are moving in the right direction and will see adoption quite quickly.”
In 2014, the Fed issued a paper calling for the U.S. to adopt a real-time payment system within the next 10 years. However, the results of ACI’s latest survey show that the majority of industry professional respondents believe this vision can be achieved in far less time.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.