Security News > 2021 > April > How global markets are adopting real-time payments

More than 70.3 billion real-time payments transactions were processed globally in 2020, a surge of 41 percent compared to the previous year, as the COVID-19 pandemic dramatically accelerated trends away from cash and checks toward greater reliance on real-time and digital payments, a report from ACI Worldwide and GlobalData reveals.

The report analyzes global real-time, account-to-account payment volumes and forecasts across 48 global markets.

"Countries with a robust digital payments infrastructure already in place have coped better than those without when it comes to containing the economic impact of the pandemic. Real-time payments have enabled governments, working jointly with financial institutions, to accelerate much-needed disbursements and economic stimulus payments to their citizens. They have also enabled real-time liquidity to businesses that had to adapt to disrupted supply chains."

"Real-time payments are still in a nascent stage worldwide, and mostly focused on the obvious use-case of P2P payments in many countries," said Samuel Murrant, lead analyst, Payments, GlobalData.

Global real-time payments growth Total number of real-time transactions in 2020 was 70.3 bn, up 41 percent from 50.0 bn in 2019.

Payments fraud Globally, card-related fraud remains highest in terms of reported incidents from consumers, but fraud incidents associated with real-time payments were on the rise from 2019 to 2020 as fraudsters tend to target new channels.

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