Number of Real-time Payment Systems Continues to Grow Globally, FIS Report Shows
- New FIS report finds 54 countries now have active real-time payment programs, up from 40 in 2018 and nearly four times as many as 2014.
Indiaremains the global leader in real-time payments usage with 10-fold increase in value and eight-fold increase in transaction volumes driven through its national system over the last year.
In its sixth annual Flavors of Fast report, FIS identified 54 countries with active real-time payment programs, up from 40 in 2018 and nearly four times as many named in the inaugural 2014 study. Leading contributors to this increase were new programs launched in
The report rated real-time payments programs around the world on a scale of 1-5 (5 being the highest), as part of its “Faster Payments Innovation Index.” Programs were rated on innovative features, fund availability and market application.
Six countries (
“Consumers and businesses globally are demanding faster payments, and more countries and financial institutions are hearing the call and taking action,” said
The FIS research found that growing use of chat-based services, retail apps, instant loans and open APIs, as well as the migration toward the ISO 20022 global payments standard, are key factors that are driving the increased adoption of real-time payments around the world.
“Real-time payments are expanding across the globe at an unprecedented pace,” said
The report defines real-time or faster payments as funds transferred from one bank account to another with payment confirmation in one minute or less. For the full 2019 Flavors of Fast report, visit fisglobal.com/flavors-of-fast.
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications