Topic: Instant, or real-time, payments (2024)

Editor’s Picks Current statistics on this topic

PaymentsTop five countries in the world with the most real-time payments (RTP) in 2023

PaymentsBiggest real-time payments brands worldwide in 2022, based on number of transactions

PaymentsTransaction value of real-time payments worldwide in 2023, with a 2030 forecast

Further recommended statistics

Premium Statistic Annual number of real-time payments in Brazil in 2023, with a 2028 forecast
Annual number of real-time payments in Brazil in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Brazil in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in Mexico in 2023, with a 2028 forecast
Annual number of real-time payments in Mexico in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Mexico in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in Italy in 2023, with a 2028 forecast
Annual number of real-time payments in Italy in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Italy in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in the U.S. in 2023, with a 2028 forecast
Annual number of real-time payments in the U.S. in 2023, with a 2028 forecast
Total number of real-time (instant) payments in the United States in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in the UK in 2023, with a 2028 forecast
Annual number of real-time payments in the UK in 2023, with a 2028 forecast
Total number of real-time (instant) payments in the United Kingdom (UK) in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in Germany in 2023, with a 2028 forecast
Annual number of real-time payments in Germany in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Germany in 2023, with a forecast for 2028
Premium Statistic Biggest real-time payments brands worldwide in 2022, based on number of transactions
Biggest real-time payments brands worldwide in 2022, based on number of transactions
Brands with the highest number of real-time (instant) payment transactions worldwide in 2022 (in billions)
Premium Statistic Annual number of real-time payments in France in 2023, with a 2028 forecast
Annual number of real-time payments in France in 2023, with a 2028 forecast
Total number of real-time (instant) payments in France in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in Canada in 2023, with a 2028 forecast
Annual number of real-time payments in Canada in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Canada in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in Sweden in 2023, with a 2028 forecast
Annual number of real-time payments in Sweden in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Sweden in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in Spain in 2023, with a 2028 forecast
Annual number of real-time payments in Spain in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Spain in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in the Netherlands in 2023, with a 2028 forecast
Annual number of real-time payments in the Netherlands in 2023, with a 2028 forecast
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Total number of real-time (instant) payments in the Netherlands in 2023, with a forecast for 2028
Premium Statistic Annual number of real-time payments in Colombia in 2023, with a 2028 forecast
Annual number of real-time payments in Colombia in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Colombia in 2023, with a forecast for 2028
Premium Statistic Annual real-time payment spending Pix in Brazil 2020-2022, in local currency and USD
Annual real-time payment spending Pix in Brazil 2020-2022, in local currency and USD
Value of real-time payments in Brazil with local scheme Pix from 2020 to 2022 (in million Brazilian real, and estimates in U.S. dollars)
Premium Statistic Top five countries in the world with the most real-time payments (RTP) in 2023
Top five countries in the world with the most real-time payments (RTP) in 2023
The five countries with the highest number of real-time payment (RTP) transactions worldwide in 2023
Premium Statistic Monthly number of payments with real-time scheme Pix in Brazil 2021-2023, per user
Monthly number of payments with real-time scheme Pix in Brazil 2021-2023, per user
Total number of real time payment transactions with local scheme Pix in Brazil from March 2021 to January 2023
Premium Statistic Monthly transaction value of Pix in Brazil 2021-2023, by segment
Monthly transaction value of Pix in Brazil 2021-2023, by segment
Total value of Pix transactions processed for payments in Brazil from June 2021 to May 2023, by segment (in billion Brazilian reals)
Premium Statistic Monthly number of Pix transactions in Brazil 2021-2023, by segment
Monthly number of Pix transactions in Brazil 2021-2023, by segment
Total number of Pix transactions processed for payments in Brazil from June 2021 to May 2023, by segment (in millions)
Premium Statistic Impression of banks worldwide on meeting ISO 20022 deadline as of 2022, by bank size
Impression of banks worldwide on meeting ISO 20022 deadline as of 2022, by bank size
Perceived progress of banks worldwide on whether they will meet the migration deadline of November 2025 for ISO 20022 as of the 3rd quarter of 2022, by size of bank assets
Premium Statistic Opinion of banks on benefits of migration to ISO 20022 as of 2022, by role in bank
Opinion of banks on benefits of migration to ISO 20022 as of 2022, by role in bank
Perceived benefits provided to banks worldwide by migrating to ISO 20022 as of the 3rd quarter of 2022, by professional role inside the bank
Premium Statistic Monthly number of users of real-time payment scheme Pix in Brazil 2021-2023
Monthly number of users of real-time payment scheme Pix in Brazil 2021-2023
Number of people who are registered to use local real time payment scheme Pix in Brazil from March 2021 to January 2023 (in millions)
Premium Statistic Top regions with the most real-time payments (RTP) in 2022, with a 2027 forecast
Top regions with the most real-time payments (RTP) in 2022, with a 2027 forecast
Regions with the highest number of real-time payment (RTP) transactions worldwide in 2022, with a forecast for 2027
Premium Statistic Real-time payments (RTP) transactions in 44 territories in 2022, with a 2027 forecast
Real-time payments (RTP) transactions in 44 territories in 2022, with a 2027 forecast
Number of real-time payments (RTP) transactions in 44 countries and territories worldwide in 2022, with a forecast for 2027
Premium Statistic Transaction value of real-time payments worldwide in 2023, with a 2030 forecast
Transaction value of real-time payments worldwide in 2023, with a 2030 forecast
Market size of real-time payments worldwide in 2023, with a forecast for 2030 (in billion U.S. dollars)
Premium Statistic Average real-time payment with Pix in Brazil 2020-2023, in local currency and USD
Average real-time payment with Pix in Brazil 2020-2023, in local currency and USD
Average value of a real-time (instant) payment transaction with local scheme Pix in Brazil from November 2020 to January 2023 (in Brazilian real, and estimates in U.S. dollars)
Premium Statistic Monthly user count of Pix in Brazil 2021-2023
Monthly user count of Pix in Brazil 2021-2023
Number of persons and companies that use Pix in Brazil from June 2021 to May 2023 (in millions)
Premium Statistic Opinion of banks on challenges of migration to ISO 20022 as of 2022, by role in bank
Opinion of banks on challenges of migration to ISO 20022 as of 2022, by role in bank
Key challenges observed in the migration to ISO 20022 by bank as of the 3rd quarter of 2022
Premium Statistic Annual number of real-time payments with Bizum in Spain 2020-2022
Annual number of real-time payments with Bizum in Spain 2020-2022
Total number of real-time (instant) A2A payments transactions processed with Bizum in Spain from 2020 to 2022
Premium Statistic Financial institutions using Pix as of June 2023, by type
Financial institutions using Pix as of June 2023, by type
Number of financial institutions adopting Pix as a payment method as of June 2023, by type
Premium Statistic Monthly number of Pix keys in Brazil 2021-2023, by type
Monthly number of Pix keys in Brazil 2021-2023, by type
Number of Pix keys registered in Brazil from June 2021 to May 2023, by type (in millions)
Premium Statistic Customer demands on payments as perceived by payment service providers 2022
Customer demands on payments as perceived by payment service providers 2022
Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022
Premium Statistic Annual number of instant payment transactions in the UK 2008-2022
Annual number of instant payment transactions in the UK 2008-2022
Total number of real-time payment transactions in the United Kingdom (UK) with local scheme Faster Payments (FP) from 2008-2022 (in millions)
Premium Statistic Annual instant payment spending, including Vipps, in Norway 2017-2022, in NOK and USD
Annual instant payment spending, including Vipps, in Norway 2017-2022, in NOK and USD
Value of real-time payments in Norway, including local scheme Vipps, from 2017 to 2022 (in million Norwegian kroner, and estimates in U.S. dollars)
Premium Statistic Monthly number of users of real-time payment scheme Bizum in Spain 2016-2023
Monthly number of users of real-time payment scheme Bizum in Spain 2016-2023
Number of registered users of real-time (instant) and A2A payment scheme Bizum in Spain from 2016 to 2023
Basic Statistic Penetration rate of instant payments in Portugal 2022
Penetration rate of instant payments in Portugal 2022
Share of people who have access to instant payments in Portugal in 2022
Basic Statistic Penetration rate of instant payments in Finlandl 2022
Penetration rate of instant payments in Finlandl 2022
Share of people who have access to instant payments in Finland in 2022
Premium Statistic Transaction value of real-time payments SEA 2021-2026, by country
Transaction value of real-time payments SEA 2021-2026, by country
Transaction value of real-time payments (RTP) in Southeast Asia in 2021 with a forecast for 2026, by selected country (in billion U.S. dollars)
Premium Statistic Annual number of instant payment transactions in Mexico 2019-2022, per capita
Annual number of instant payment transactions in Mexico 2019-2022, per capita
Total number of real-time payment transactions in Mexico with local scheme CoDi from 2019 to 2022
Premium Statistic Total number of instant payment systems (IPS) in Africa 2023, by region
Total number of instant payment systems (IPS) in Africa 2023, by region
Total number of instant payment systems (IPS) in Africa as of 2023, by region
Premium Statistic Total number of instant payment systems (IPS) in Africa 2023, by country
Total number of instant payment systems (IPS) in Africa 2023, by country
Total number of active instant payment systems (IPS) in Africa as of 2023, by country
Premium Statistic Volume of UPI digital payments across India FY 2017-2023
Volume of UPI digital payments across India FY 2017-2023
Volume of UPI-based digital payments across India from financial year 2017 to 2023 (in millions)
Premium Statistic Value of UPI digital payments across India FY 2017-2023
Value of UPI digital payments across India FY 2017-2023
Value of UPI-based digital payments across India from financial year 2017 to 2023 (in billion Indian rupees)
Premium Statistic Annual instant payment spending in the UK 2008-2022, in local currency and USD
Annual instant payment spending in the UK 2008-2022, in local currency and USD
Value of real time payments in the United Kingdom (UK) with local scheme Faster Payments (FP) from 2008 to 2022 (in million GBP, and estimates in U.S. dollars)
Premium Statistic Biggest A2A payments brands in Latin America in 2023, based on number of transactions
Biggest A2A payments brands in Latin America in 2023, based on number of transactions
Brands with the highest number of A2A payments transactions per month in Latin America in 2023 (in millions)
Premium Statistic Most promising options for central banks to help improve cross-border payments 2023
Most promising options for central banks to help improve cross-border payments 2023
Key avenues that central bank consider to have the most promise to improve cross-border payments in 2022 and 2023
Premium Statistic Opinion of banks on why to modernize their cross-border payment strategy 2023
Opinion of banks on why to modernize their cross-border payment strategy 2023
Key factors considered by banks for future modernization of cross-border payments as of 2023
Premium Statistic Amounts spent at different forms of payments in Poland 2023
Amounts spent at different forms of payments in Poland 2023
Amounts that people spent at different forms of payments in Poland in 2023 (in zloty)
Premium Statistic Annual instant payment spending in Mexico 2019-2023, in local currency and USD
Annual instant payment spending in Mexico 2019-2023, in local currency and USD
Value of real time payments in Mexico with local scheme CoDi from 2019 to 2022 (in million Mexican pesos, and estimates in U.S. dollars)
Premium Statistic Total number of instant payment systems (IPS) in Africa 2023, by country and IPS type
Total number of instant payment systems (IPS) in Africa 2023, by country and IPS type
Total number of active instant payment systems (IPS) in Africa as of 2023, by country and IPS type
Premium Statistic Total number of instant payment systems (IPS) in Africa 2023, by region and IPS type
Total number of instant payment systems (IPS) in Africa 2023, by region and IPS type
Total number of active instant payment systems (IPS) in Africa as of 2023, by region and IPS type

FAQs

Topic: Instant, or real-time, payments? ›

Real-time payments are instant payments

instant payments
An instant payment enables businesses to transfer money quickly—usually between five and 30 seconds—although it can sometimes take a few minutes depending on system availability and the type of bank being used.
https://stripe.com › resources › more › sepa-instant-payments
What is an instant payment | Stripe

that are processed immediately and continuously, 24/7. Unlike traditional payment systems, which can take hours or even days to complete transactions, RTP systems immediately transfer funds from one bank account to another.

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What is the difference between real-time payments and instant payments? ›

For these reasons, real-time payments are also commonly referred to as immediate payments or instant payments. All real-time payments are irrevocable, meaning once a payment is made, the payer cannot deauthorize the transfer.

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What are examples of real-time payments? ›

RTP processes transactions on bank holidays and weekends, and after business hours. RTP has major commercial applications in payroll, utility bill payment, insurance and even retail payments to name a few.

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Is Zelle considered RTP? ›

Zelle appears to be an instant payment from the user perspective — and it actually is — when it uses RTP to settle transactions in real time.

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What is the difference between ACH and real-time payments? ›

RTP (Real-Time Payments), allows users to initiate, send, and receive payments instantaneously, 24/7 and 365 days a year. ACH transactions are much slower than real-time payments, often taking between 2-3 business days for payments to complete.

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What are the risks of RTP? ›

(Unlike the ACH network, which is nearly ubiquitous, not all banks currently participate in the RTP network.) RTP transactions are also irrevocable – meaning that while there are options to request the return of an erroneous payment, there is no guaranteed or automated way to recover it.

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Do all banks accept RTP? ›

The RTP network is open to all federally insured U.S. depository institutions.

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What is an example of an instant payment? ›

A well known use case is the transfer of funds via mobile phone between friends to split a bill at a restaurant. Instant payments at a merchants' point of sale are also increasing, although they are more complex. In-store payments with a mobile app by the scanning of a QR code are a good a example of such use.

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Does Venmo use ACH or RTP? ›

The future of monetary transfers is now. Both Venmo and DailyPay have adopted the Real-Time Payments (RTP) and FedNow networks, which are the latest innovations in fund transfers. Consumers Credit Union is also committed to supporting RTP and FedNow, both of which deliver funds immediately.

Is CashApp an RTP? ›

Same-day ACH transactions are batched and settled together daily. RTPs are individually processed in real-time. Mobile payments like Venmo and CashApp provide instant access to transferred funds, but they are still not RTPs.

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Is Venmo real time? ›

To be considered a real-time payment, a payment service must be able to allow users to initiate, send, and receive payments instantaneously or nearly-instantaneously (i.e. within a few minutes). The Real-Time Payment Network, Zelle, FedNow, and Venmo are all examples of real-time payment services.

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Does PayPal have RTP? ›

While PayPal is not an official part of the Real-Time Payments (RTP) Network itself, it is a service provider that can provide instant payments. When utilizing PayPal, users can take advantage of PayPal's Instant Transfer feature to send and receive funds in real time.

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Is RTP cheaper than ACH? ›

Both ACH and wires may be unsuccessful due to insufficient funds. Cost per Payment: ACH will generally cost between $0.20 – $1.5, wires are in the range of $25-$50, and RTP transactions typically cost between $0.25 – $1.

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Can RTP be reversed? ›

RTPs process transactions instantly, leaving little time for banks and payment service providers (PSPs) to detect and prevent fraudulent activities. For example, once a transaction has been processed in an RTP system, it cannot be reversed, which could lead to significant losses if the transaction was fraudulent.

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Is RTP the same as wire? ›

The difference between a wire transfer and a real time payment is that real-time payments take place and settle instantly, but wire transfers can take anywhere from a few minutes to 24 or more hours, depending on the financial institutions involved in the transactions.

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What is the meaning of Instant Payment? ›

Instant payments are credit transfers that make funds available in a payee's account within ten seconds of a payment order being made.

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Is immediate payment the same as Instant Payment? ›

An instant transfer is also known as an instant payment, an immediate payment, a real-time payment or a faster payment. Although there are different names, the meaning is the same. A transfer is made instantly from a payee to a recipient.

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What is the difference between faster payment and Instant Payment? ›

Summary From an end user's perspective, many types of payments can be “faster” in that funds appear to move from the sender to the receiver in near real-time, but to be considered an Instant Payment, the payer and payee's FIs need to be able to settle that payment on a real-time basis as well.

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What is the difference between RTP and FedNow? ›

The major difference between RTP and FedNow in terms of transaction settlements is that RTP relies on a centralized system, while FedNow operates under a decentralized model. In RTP, all transactions flow through a central clearing house to simplify the settlement process.