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Instant Payments Market Analysis, Key Trends, Strategies, and Future Implications, 2022

Publisher GlobalData
Published Feb 15, 2022
Length 23 Pages
SKU # GBDT17057963

Description

Instant Payments Market Analysis, Key Trends, Strategies, and Future Implications, 2022

Summary

This report discusses the impact of instant payment technology on the payments industry, covering the key countries and companies that are innovating in this sector. It also examines the risks associated with this emerging technology - as well as the solutions that aim to overcome these risks.

Instant payment technology is gradually being adopted by most countries as an innovative payments network that improves payment infrastructure by ensuring transactions happen in seconds and without interruption. Some countries see instant payments as an opportunity to create more financial inclusion by simplifying access to digital banking for those who cannot access a bank account. Countries leading the race to adopt instant payments are now focusing on developing regional instant payment networks that will enable international funds transfers in different currencies.

Scope
  • In 2020, the number of global instant payment transactions reached 70.4 billion. It is expected to reach just under 200 billion by 2024.
  • Government initiatives are driving the development of instant payment platforms around the world.
  • Asia Pacific is leading in the adoption of instant payments and was the only region with a transaction volume surpassing 56 billion in 2020.
  • India and China are responsible for 73% of all instant payment transactions; the former leads with 25.5 billion transactions.
Reasons to Buy
  • Discover the general trend of the instant payments sector across the world.
  • Identify the market leaders and understand why countries and companies are motivated to adopt instant payments.
  • Understand the different approaches taken towards adopting instant payments.
  • Establish how blockchain challenges instant payments technology.

Table of Contents

23 Pages
    • Market overview
    • Key findings
    • Critical success factors
    • Figure 1: Instant payment transactions are projected to reach 199 billion by 2024
    • Figure 2: The Asia Pacific region is leading in the adoption of instant payment transactions
    • Figure 3: In 2020, India was the leader in instant payments with 25.48 billion transactions
    • India
    • Brazil
    • UK
    • US
    • Value chains
    • Instant payments vs. blockchain
    • Case studies: Key companies
    • Use cases: RtP
    • Predictions for the future
    • Abbreviations and acronyms
    • Definitions
    • Methodology
    • Secondary sources
    • Further reading
  • About GlobalData
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