Today In Data

Global Demand Grows For Instant Payments

Woody Allen once supposedly said 80 percent of success is just showing up. Beyond that, in business and in life, showing up on time counts for a lot, too. So it is with payments, where speed counts. The movement toward faster payments and peer to peer (P2P) is, well, quickening. As the Faster Payments Tracker shows, the clamor for speedier payments spans the globe.

Data:

30.6 percent: Projected CAGR of the real-time payments market from 2018 to 2023.

67 percent: Share of Australians slated to use real-time payments by 2023.

23 billion: Number of payments the ACH network processed in 2018.

6.9 percent: The growth in payments volume via the ACH network between 2017 and 2018.

$40 trillion: Value of payments transferred through SWIFT in 2018.

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