Consumer Instant Payments — P2P and Beyond

Consumer Instant Payments — P2P and Beyond

This IDC Perspective discusses recent events in consumer access to real-time payment networks. Similar functionality has been available in other markets, and it is indicative of a trend toward the use of real-time service for an increasing range of use cases. The shift to real time for consumer payments will have broad-ranging impacts across the payments ecosystem.According to Aaron Press, research director, Worldwide Payment Strategies at IDC, "The convergence of real-time payments and consumer P2P payment applications represents an inflection point in how consumers pay not only each other but the businesses they interact with every day. Merchants, processors, and banks must all be prepared."

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