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.
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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.).
