The Real-Time Payments World Map – October 2023

Handicapping the US, UK and Europe Real Time Payments Race

The Real-Time Payments World Map – October 2023

The U.S., U.K. and Europe are intensifying their efforts to develop and deploy the policies and infrastructure necessary to advance the use cases and real time payments volume of their domestic networks. This month’s “Real-Time Payments World Map,” a collaboration with The Clearing House, explores the progress and future developments of real-time payments across these regions.

Inside the October World Map

  • In the U.S., the RTP® network achieved a significant milestone in July by reaching 500 million payments, and the launch of FedNow marked the first nationwide payment infrastructure in 40 years.
  • The U.K. anticipates that real-time payments will have overtaken cash transactions in the country by 2027.
  • In Europe, instant transactions accounted for less than 12% of all Single Euro Payments Area (SEPA)credit payments in Q1 2022.

    By completing this form, you agree to receive marketing communications from PYMNTS and consent to the sharing of your information with our sponsors, where applicable, in accordance with our Privacy Policy and Terms and Conditions. Sponsors may use this information to contact you directly. You may update your preferences or withdraw your consent at any time.

    to our daily newsletter, PYMNTS Today.

    Real-Time Payments World Map