2021 Key Trends of the Payment Industry: Real-Time Payments in Asia

2021 Key Trends of the Payment Industry: Real-Time Payments in Asia

Asian real-time payments boosted amid the COVID-19 pandemic

Amid the coronavirus pandemic, real-time payments in Asia accelerated

Since the outbreak of the COVID-19 health crisis, and especially at the times of the first lockdown, most of the countries in the Asian region underwent a rise in the values and volumes of payments via their local RTGS systems. The Japanese Core Time System experienced a significant spike in March 2020, while the numbers have gradually stabilized after that. The Philippines’ real-time low-value electronic fund transfer service InstaPay has accelerated transactions by three-digit percentages in the times of the pandemic. Moreover, India, after a serious decrease in the numbers in April-May 2020, recovered in the following months and reached even higher numbers, according to figures cited in the new yStats.com report. This positive development is likely to continue in the near future as such economies as China, Singapore, Malaysia, and some others are forecasted to considerably grow in terms of real-time payments adoption by the year 2024.


• Main Drivers and Challenges for Real-Time Payments Adoption, December 2020
• Profile of Zengin Data Telecommunication System, December 2020
• The Core Time System’s Number of Transactions, in thousands, Value of Transactions, in JPY 100 million, and Year-on-Year Change, in %, October 2019 – October 2020
• Transaction Volume of The More System, in thousands, in % of Y-o-Y Growth Rate, October 2019 – October 2020
• Volume of Real-Time Transactions, in billions, 2019 & 2024f
• Profile of the New Payment Platform and COVID-19’s Impact on its Activity, December 2020
• Value of Retail Payments via the New Payments Platform, in AUD billion, and Volume of Retail Payments via the New Payment Platform, in millions, October 2018 & October 2019 & October 2020
• Share of PayID Users Who Use It at Least Once a Week, in %, October 2020
• Share of Account-to-Account Credit Payments Administered by the NPP, in % of Total, and Share of the NNP Transactions Involving a Payment to or from a Business, in % of the NPP Transactions, October 2020
• Profile of the Fast and Secure Transfers (FAST) and PayNow, December 2020
• Share of Transactions and Share of Transaction Value, by Payment Instrument, incl. Electronic, Immediate Payments, and Paper-Based, in % of Total Transactions, 2019 & 2024f
• Profile of the Internet Banking Payments System, and Alipay’s Activity in Cross-Border Real-Time Payments, December 2020
• Volume of Real-Time Transactions, in billions, 2019 & 2024f
• Profiles of IMPS and UPI, incl. Definition, Fund Transfer Limit, Required Devices, Information Required, Fund Transfer Time, Cost of Fund Transfer, E-Commerce Transaction Possibility, December 2020
• IMPS Number of Member Banks, Number of Transactions, in millions, Value of Transactions, in INR million, and Month-on-Month Change, in %, November 2019 – November 2020
• UPI Number of Member Banks, Number of Transactions, in millions, Value of Transactions, in INR million, and Month-on-Month Change, in %, November 2019 – November 2020
• Profile of Payments Network Malaysia Sdn Bhd (PayNet), December 2020
• Volume of Real-Time Transactions, in millions, 2019 & 2024f
• Profile of InstaPay and COVID-19’s Impact on its Activity, December 2020
• InstaPay Transaction Value, in PHP billion, and Transaction Volume, in millions, January 2020 & June 2020
• Profile of LankaPay’ Common Electronic Fund Transfer, December 2020
• Share of the Transaction Value Settled in the Real-Time Gross Settlement System, in % of the Non-Cash Payments, 2020
• Profile of PromptPay and COVID-19’s Impact on PromptPay’s activity, December 2020
• Number of Registrations on PromptPay, by months, in millions, in % of Year-on-Year Change, December 2019-August 2020
• Volume of Daily Transactions via PromptPay, in millions, and Value of Daily Transactions via PromptPay, in THB billion, January 2020 – September 2020

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook