The Faster Payments Revolution: Build It and They Will Come
Report Summary
The Faster Payments Revolution: Build It and They Will Come
Newly built real-time retail payment systems will transform national payments markets around the world.
London, 20 January 2016 – On occasion the payments industry moves collectively, as a shoal, and the emergence of real-time retail payments has captured the imagination of participants from across the entire banking and payments industry, and the globe. Real-time payments seems conceptually straightforward, but it has many drivers and manifestations, and it offers the potential for a multitude of new services to be devised and introduced to consumers, businesses, and large corporations.
This report explores the emergence of retail real-time payments systems, their impact on current payments markets, how they are likely to develop, and their capacity to induce innovation across the wider retail banking industry. It is based on a series of in-depth Aite Group interviews with executives from processors, banks, consultancies, associations, and payment system management companies.
This 32-page Impact Report contains seven figures and two tables. Clients of Aite Group’s Retail Banking & Payments service can download this report.