Most financial institutions, billing organizations and merchants think real-time payments will improve customer service, and most plan to boost spending for payments-related projects, according to new data.

The research, gathered by Naples, Fla.-based ACI Worldwide and market research firm Ovum, from more then 1,000 executives of retail banks, billing organizations and merchants, found that 86%, 82% and 78% of those organizations, respectively, anticipated that their customer service will get better thanks to real-time payments. Most respondents also said they expected real-time payments to help cut operating costs.

In addition, 51% of the respondents said they will increase their IT budgets for payments-related projects in 2018.

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