NE-ACI-WRLDWDE/GLOBLDATA
Global real-time payments growth has reached sustainable levels with 266.2 billion real-time payments transactions recorded in 2023—a year-over-year (YoY) growth of 42.2%—according to the 2024 Prime Time for Real-Time report, published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240429624485/en/
While previous reports highlighted the economic benefits of real-time payments and consumer uptake around the world, this year’s report—now in its fifth edition—takes a deep dive into some of the world’s leading real-time payments markets, highlighting the factors that have enabled those countries to build successful end-to-end real-time payments ecosystems. The report also reveals that many of the newer market entrants around the globe are quickly catching up, with lawmakers and central banks around the world pushing for adoption, determined to reap the economic benefits of real-time payments and drive financial inclusion for their citizens.
Key Findings at a Glance
- Globally, 575.1 billion real-time transactions are forecast by 2028, representing a 2023-2028 compound annual growth rate (CAGR) of 16.7%. By 2028, real-time payments are expected to account for 27.1% of all electronic payments globally.
- India continues to dominate the global real-time payments market, with 129.3 billion transactions in 2023 – more than the rest of the world’s top 10 real-time payments markets combined. Of all electronic payments made in India, 84% are now real-time.
- Brazil saw a remarkable YoY growth of 77.9% in 2023, with 37.4 billion real-time payments transactions. Brazil is the undisputed real-time payments leader in Latin America, responsible for 75% of all transactions in the region. Other Latin American countries are pushing ahead with real-time payments modernization initiatives, looking to replicate Brazil’s success. Peru and Colombia are predicted to have the highest 2023-2028 CAGRs in the region, with 51.2% and 42.6%, respectively.
- Asia Pacific (APAC) is the largest real-time payments market, with 185.8 billion transactions in 2023, representing 24.0% of all electronic payments in the region. With four of the top five real-time payments markets by volume, the APAC region is projected to see over 351.5 billion real-time transactions by 2028, a 2023-2028 CAGR of 13.6%.
- The Middle East is the fastest-growing real-time payments market globally. Oman, Kuwait and Qatar all launched schemes in 2023, joining more established regional players like Saudi Arabia, Bahrain and UAE. The 2023-2028 CAGR for the region is 28.8% – transactions are expected to rise from 855 million to 3.0 billion by 2028.
- The European Union (EU) Instant Payments Regulation, passed in February 2024, is expected to drive instant payments volume across the Single Euro Payments Area, including the 27 EU member states. By 2028, instant payments are forecast to account for 13% of all electronic payments in Europe, up from 8% in 2023.
- North America is a major growth market to watch—primarily due to the launch of the FedNow service in the U.S. in 2023—with a projected 2023-2028 CAGR of 27.1%.
- Nigeria is the undisputed real-time payments leader in Africa, another major growth market. The country recorded 7.9 billion transactions in 2023; real-time payments had an impressive 82.1% share of all electronic payments in 2023.
Market Deep-Dives: Lessons from the Most Successful Real-Time Payments Markets
For the first time, this year’s report takes a deep dive into five of the most successful real-time payments markets worldwide—India, Brazil, Indonesia, Malaysia, and Netherlands—analyzing the driving factors and use cases that have allowed those countries to develop thriving real-time payment ecosystems with the power to transform businesses and improve consumers’ lives.
- The Power of Collaboration: Whether by government mandate or industry consensus, real-time payments systems thrive through active collaboration. Financial institutions, payment service providers, central banks and government institutions, merchants and third-party stakeholders must work together to build and operate successful real-time payments ecosystems.
- Open and Inclusive Payments Ecosystems: The most successful real-time payments markets are fostering fintech-rich environments. The research shows that fintechs and smaller banks play an increasingly significant role in the real-time payment ecosystems of the world’s leading markets. Larger banks will need to reevaluate strategies and forge new partnerships with fintechs to remain competitive in the rapidly growing real-time payments markets across the world.
- Strong Incentives for Merchants: Merchant adoption and uptake are crucial for real-time payments growth. The Indian government, for example, removed merchant discount rates and issued all merchants with QR codes for UPI acceptance, actively incentivizing merchants of all sizes to accept UPI payments.
- Constant Flow of New, User-Friendly Use Cases: Real-time payments thrive in countries where innovative use cases have found mass adoption by consumers or businesses. Whether utility or tax bills, transport tickets or road tolls, subscription payments, or the weekly grocery shop, consumers in the most successful markets are now paying in real time.
- Cross-Border Real-Time Payments Links are the next Big Frontier: Efforts to extend real-time to cross-border payments are finally paying off, and Asian countries are leading the way. Payments using India’s popular UPI scheme can now be made in Malaysia, Indonesia, UAE and France, and users of Malaysia’s DuitNow can now make QR code real-time payments from Indonesia, Singapore, Thailand and China.
- Real-time payments fraud: Generative AI is changing the nature and scale of fraud attacks, but the industry is rising to the challenge. Consumer rights initiatives, education programs and government interventions—combined with new AI-based anti-fraud technology and methods—are starting to make an impact.
“This year’s report highlights the key success factors that have allowed some countries to forge ahead with real-time payments modernization and reap enormous benefits for consumers and businesses,” said Craig Ramsey, global head of real-time payments, ACI Worldwide. “Modern real-time payments require collaboration, and they encourage a new generation of market entrants for banks to either compete or cooperate with – often both. The world’s most successful real-time payments schemes, notably those in India and Brazil, also feature use cases that have proved popular beyond imagination.”
“Real-time payments—and especially cross-border payments—are the future. They remove payments friction, provide greater liquidity in the financial system, and ultimately drive economic growth and financial inclusion,” said Debbie Guerra, chief product officer, ACI Worldwide. “Banks should consider whether they are truly maximizing the real-time rails in their market, and whether limiting their commitment to the minimum also means limiting their potential share of the future of payments.”
Note to editors: All key facts and figures at a glance can be found in our Prime Time for Real-Time 2024 Infographic.
About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.
© Copyright ACI Worldwide, Inc. 2024
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240429624485/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Setting the Standard: AMRA Medical Recognized as one of TIME Magazine’s ‘World’s Top HealthTech Companies’18.9.2025 16:40:00 CEST | Press release
The inaugural ranking by TIME, in partnership with Statista, features AMRA as one of the world’s leading health technology companies that are “driving innovation, enhancing accessibility, and contributing to a more effective and sustainable health care system” AMRA Medical is proud to share its inclusion in the World’s Top HealthTech Companies list, published today by TIME in collaboration with Statista. This recognition positions AMRA among an elite group of global innovators that are leading healthcare transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918372780/en/ AMRA Medical Recognized as one of TIME Magazine’s ‘World’s Top HealthTech Companies’ The selection, which comes just one week after celebrating AMRA’s 15 years of progress and innovation within the body composition space, highlights AMRA’s long-standing commitment to becoming a global leader in health informatics. By delivering detailed, reproduc
illumynt, a CNE Direct Company, Is Pleased to Announce the Promotion of Jörg Herbarth to Chief Executive Officer (CEO)18.9.2025 16:30:00 CEST | Press release
illumynt, a CNE Direct company, is pleased to announce the promotion of Jörg Herbarth to Chief Executive Officer (CEO). Jörg has been a key member of illumynt’s executive leadership team since joining in June 2022, most recently serving as Chief Operating Officer. In his new role as CEO, Jörg will spearhead illumynt’s mission to become the number one provider of AI- and data-centric IT Asset Disposition (ITAD) solutions worldwide. Paul Knight, illumynt’s current CEO, will transition to the role of Founder & Chairman. In this capacity, Paul will continue to support the executive team with strategic guidance, while Jörg assumes full leadership of day-to-day operations and global expansion initiatives. Mr. Knight had come out of retirement a year ago to undertake some new initiatives and advance the company's strategic direction. With some necessary changes having taken place- he is thrilled to facilitate this transition to a reduced role again. Under Jörg’s leadership, illumynt will cont
Textron Aviation Broadens Aftermarket Connectivity Solutions for Cessna Citation Latitude by Offering Starlink High-Speed Internet18.9.2025 15:30:00 CEST | Press release
Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced an additional high-speed internet connectivity solution for the Cessna Citation Latitude following the Federal Aviation Administration’s (FAA) issuance of AeroMech’s Supplemental Type Certificate (STC) for Starlink high-speed internet connectivity. AeroMech’s STC utilizes Starlink’s constellation of Low Earth Orbit (LEO) satellites to provide more reliable connectivity over land, water and remote areas, where traditional in-flight Wi-Fi may not have service. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918380069/en/ Textron Aviation broadens aftermarket connectivity solutions for Cessna Citation Latitude by offering Starlink high-speed internet (Photo Credit: Textron Aviation) “With Starlink connectivity now available as an upgrade, Citation Latitude customers can enjoy a seamless, high-speed in-flight experience that keeps them connected in more
Lenovo Finds 65% of IT Leaders Admit Their Defenses Can’t Withstand AI Cybercrime18.9.2025 15:00:00 CEST | Press release
New Lenovo Research Shows How AI-Powered Defenses Help Enterprises Turn Cyber Risk into Cyber Resilience Lenovo research reveals a widening security gap as AI-driven cybercrime surges: 65% of IT leaders surveyed admit their defenses are outdated and unable to withstand AI-enabled attacks, and just 31% feel confident defending against them. The new insights are drawn from Lenovo’s third Work Reborn report, Reinforcing the Modern Workplace. While AI is driving business improvements and efficiency gains, it is also fueling a new wave of cybercrime that most businesses are ill-equipped to defend against. This underscores the critical need for enterprises to adopt AI-driven strategies that can counter threats that learn, adapt, and evolve in real time. Lenovo is positioned to deliver this shift with end-to-end solutions that embed AI security into the digital workplace. With operations in 180 markets and a leader in enterprise technology, Lenovo brings unmatched scale to solving AI workplac
Decode the Future of AI and Customer Experience at Elevate'25 Digital Innovation Summit18.9.2025 15:00:00 CEST | Press release
With keynotes from Google Cloud and an independent research firm, Elevate’25 will provide actionable strategies to harness the power of AI and create exceptional experiences for today's mobile-first consumer As unprecedented advancements in AI reshape consumer behavior, digital innovation summit Elevate'25 opened for general registration today. Sponsored by Airship, the exclusive, one-day event is designed to equip business leaders with proven strategies to harness artificial intelligence and mobile-first technology for a decisive competitive advantage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918928987/en/ Gain insight and advice from firms at the frontier of AI-powered, mobile-first customer experiences. Taking place on October 15, 2025, at the iconic Shangri-La at The Shard in London, Elevate'25 moves beyond the headlines to provide a practical roadmap for success, featuring insights from brand executives and ind
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom