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2024 Payment Methods Report: Overview, Insights, and Statistics

Clearly Payments

Real-Time Payments (RTP) & Instant Payments Overview : Real-Time Payments (RTP) systems allow funds to transfer instantly between bank accounts, offering 24/7 availability, even outside standard banking hours. Usage : RTP systems are growing rapidly; India’s UPI processed 74 billion transactions in 2023, while Zelle in the U.S.

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Paymentology’s predictions for 2025

The Payments Association

Real-time payments (RTP) could reach $193.1 By combining traditional credit cards, digital wallets, BNPL (Buy Now Pay Later) services, and real-time payments, businesses can offer customers a seamless, personalised experience. trillion, and to almost triple by 2030. billion within the multi-rail payments ecosystem by 2030.

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Finovate Global: Boku’s Stuart Neal Talks About Local Payment Methods, EPI, and More!

Finovate

Its fair to say that traditional financial systems left many people and communities underserved, but LPMsfrom mobile wallets in Africa to RTP schemes like UPI in Indiabridge this gap, and theyre empowering billions of consumers to participate in the digital economy. And thats a really positive development.