Search
 

CU Tech Hub

Real-Time Payments Surging Worldwide, Lagging in the U.S.: FIS Report

The Federal Reserve has not mandated the provision of immediate payments in the U.S.

While real-time payment adoption surges internationally, its adoption appears lagging in the U.S. almost a year after the U.S. launched its first real-time payments system, according to an FIS study.

In its fifth annual Flavors of Fast report, Jacksonville, Fla.-based financial technology powerhouse FIS identified 40 active real-time payment programs around the world, up from 25 in 2017 and nearly three times as many as the company’s initial 2014 study. Further, the report identified five payments programs under development, plus another 16 expected to be live in the next 12-18 months – double the number of programs on the radar in 2017.

While demand is rising and adoption globally remains strong, the U.S. continues to fall behind other countries RTP programs, including India, Australia and Singapore.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

More from this author

Dig Deeper

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.