- ›
- Financial Services
Instant payments, or real-time (RTP) payments, make it possible to perform payment transactions nearly instantaneously and are expected to grow in importance in the coming years. The value of transactions processed using this technology will grow by 289 percent between 2023 and 2030. Real-time payments are typically not settled on a card rail - the networks from Visa or MasterCard - but on a bank rail. One example of a real-time payment scheme is UPI (Unified Payments Interface) in India, which allows Google Pay to operate in the country. The country with the highest growth in instant payments, however, is Brazil - due to the growing popularity of the domestic scheme Pix. Instant payments in developed countries take on a different role altogether. A system like FedNow in the United States cannot be immediately compared to UPI.
FedNow (U.S.), Faster Payments (UK), SEPA (EU): Supporting banks
Real-time payments are not new in Europe. The Faster Payments scheme in the UK - rolled out in 2008 - facilitates interbank payments on the same day. Similarly, the pan-EU SCT Inst scheme - live since 2017, supporting SEPA - focuses on wire transfers, as European consumers prefer American payment brands in their daily lives. The United States only received its first instant payment system - FedNow - in July 2023. This scheme again focuses on interbank payments and will first co-exist with existing settlement schemes Zelle and RTP. The UK and EU hope to improve real-time transactions by implementing ISO 20022 in the future, sensing consumers wish to see transaction speeds increase. The UK hopes to roll out the New Payments Architecture of NPA come 2030. The European Union continues testing the European Payments Initiative (EPI).
UPI (India), Pix (Brazil), CoDi (Mexico): A focus on financial inclusion
Brazil and India take a consumer-driven approach to instant payments, looking for applications in day-to-day life. UPI - live since 2016 - is seen by many as the biggest instant payment system in the world. It provided a framework for Google Pay, but also serves as an innovation hub. UPI plans to implement QR codes for cross-border payments, for example. Pix stands out due to its sizable growth after launching only in late 2020. For Pix, the level of convenience and it being cheaper than debit or credit cards are reasons why the unbanked population in Brazil declined. Mexico hopes to follow Pix with Cobro Digital or CoDi. Mexico's centralized scheme is not growing as fast as Pix as big domestic retailers like Oxxo already developed their own payment schemes.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Raynor de Best Content expert covering payments and (crypto)currencies
Key insights
- Biggest customer pain points using payment services
- Lack of real-time payments
Detailed statistics
Customer demands on payments as perceived by payment service providers 2022
- Share of central banks that hope to improve cross-border payments with real-time systems
- 20%
Detailed statistics
Most promising options for central banks to help improve cross-border payments 2023
- Share of APAC respondents who listed India as a likely region for payment innovation
- 20%
Detailed statistics
Regions or countries believed to be the most likely to innovate payments 2022-2027
Get more insights
Editor’s Picks Current statistics on this topic
Further recommended statistics
- Premium Statistic Annual number of real-time payments in Brazil in 2023, with a 2028 forecast
Annual number of real-time payments in Brazil in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Brazil in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Italy in 2023, with a 2028 forecast
Annual number of real-time payments in Italy in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Italy in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Mexico in 2023, with a 2028 forecast
Annual number of real-time payments in Mexico in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Mexico in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in the U.S. in 2023, with a 2028 forecast
Annual number of real-time payments in the U.S. in 2023, with a 2028 forecast
Total number of real-time (instant) payments in the United States in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in the UK in 2023, with a 2028 forecast
Annual number of real-time payments in the UK in 2023, with a 2028 forecast
Total number of real-time (instant) payments in the United Kingdom (UK) in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Germany in 2023, with a 2028 forecast
Annual number of real-time payments in Germany in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Germany in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Singapore 2023-2028
Annual number of real-time payments in Singapore 2023-2028
Total number of real-time (instant) payments in Singapore in 2023, with a forecast for 2028
- Premium Statistic Annual real-time payment spending Pix in Brazil 2020-2022, in local currency and USD
Annual real-time payment spending Pix in Brazil 2020-2022, in local currency and USD
Value of real-time payments in Brazil with local scheme Pix from 2020 to 2022 (in million Brazilian real, and estimates in U.S. dollars)
- Premium Statistic Annual number of real-time payments in France in 2023, with a 2028 forecast
Annual number of real-time payments in France in 2023, with a 2028 forecast
Total number of real-time (instant) payments in France in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Canada in 2023, with a 2028 forecast
Annual number of real-time payments in Canada in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Canada in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Sweden in 2023, with a 2028 forecast
Annual number of real-time payments in Sweden in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Sweden in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Colombia in 2023, with a 2028 forecast
Annual number of real-time payments in Colombia in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Colombia in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in the Netherlands in 2023, with a 2028 forecast
Annual number of real-time payments in the Netherlands in 2023, with a 2028 forecast
Total number of real-time (instant) payments in the Netherlands in 2023, with a forecast for 2028
- Premium Statistic Annual number of real-time payments in Spain in 2023, with a 2028 forecast
Annual number of real-time payments in Spain in 2023, with a 2028 forecast
Total number of real-time (instant) payments in Spain in 2023, with a forecast for 2028
- Premium Statistic Biggest real-time payments brands worldwide in 2022, based on number of transactions
Biggest real-time payments brands worldwide in 2022, based on number of transactions
Brands with the highest number of real-time (instant) payment transactions worldwide in 2022 (in billions)
- Premium Statistic Transaction value of real-time payments worldwide in 2024, with a 2028 forecast
Transaction value of real-time payments worldwide in 2024, with a 2028 forecast
Market size of real-time payments worldwide in 2024, with a forecast for 2028 (in billion U.S. dollars)
- Premium Statistic Monthly number of payments with real-time scheme Pix in Brazil 2021-2023, per user
Monthly number of payments with real-time scheme Pix in Brazil 2021-2023, per user
Total number of real time payment transactions with local scheme Pix in Brazil from March 2021 to January 2023
- Premium Statistic Monthly number of users of real-time payment scheme Pix in Brazil 2021-2023
Monthly number of users of real-time payment scheme Pix in Brazil 2021-2023
Number of people who are registered to use local real time payment scheme Pix in Brazil from March 2021 to January 2023 (in millions)
- Premium Statistic Top regions with the most real-time payments (RTP) in 2022, with a 2027 forecast
Top regions with the most real-time payments (RTP) in 2022, with a 2027 forecast
Regions with the highest number of real-time payment (RTP) transactions worldwide in 2022, with a forecast for 2027
- Premium Statistic Top five countries in the world with the most real-time payments (RTP) in 2023
Top five countries in the world with the most real-time payments (RTP) in 2023
The five countries with the highest number of real-time payment (RTP) transactions worldwide in 2023
- Premium Statistic Real-time payments (RTP) transactions in 44 territories in 2022, with a 2027 forecast
Real-time payments (RTP) transactions in 44 territories in 2022, with a 2027 forecast
Number of real-time payments (RTP) transactions in 44 countries and territories worldwide in 2022, with a forecast for 2027
- Premium Statistic Average real-time payment with Pix in Brazil 2020-2023, in local currency and USD
Average real-time payment with Pix in Brazil 2020-2023, in local currency and USD
Average value of a real-time (instant) payment transaction with local scheme Pix in Brazil from November 2020 to January 2023 (in Brazilian real, and estimates in U.S. dollars)
- Premium Statistic Monthly transaction value of Pix in Brazil 2021-2023, by segment
Monthly transaction value of Pix in Brazil 2021-2023, by segment
Total value of Pix transactions processed for payments in Brazil from June 2021 to May 2023, by segment (in billion Brazilian reals)
- Premium Statistic Monthly number of Pix transactions in Brazil 2021-2023, by segment
Monthly number of Pix transactions in Brazil 2021-2023, by segment
Total number of Pix transactions processed for payments in Brazil from June 2021 to May 2023, by segment (in millions)
- Premium Statistic Impression of banks worldwide on meeting ISO 20022 deadline as of 2022, by bank size
Impression of banks worldwide on meeting ISO 20022 deadline as of 2022, by bank size
Perceived progress of banks worldwide on whether they will meet the migration deadline of November 2025 for ISO 20022 as of the 3rd quarter of 2022, by size of bank assets
- Premium Statistic Opinion of banks on benefits of migration to ISO 20022 as of 2022, by role in bank
Opinion of banks on benefits of migration to ISO 20022 as of 2022, by role in bank
Perceived benefits provided to banks worldwide by migrating to ISO 20022 as of the 3rd quarter of 2022, by professional role inside the bank
- Premium Statistic Opinion of banks on challenges of migration to ISO 20022 as of 2022, by role in bank
Opinion of banks on challenges of migration to ISO 20022 as of 2022, by role in bank
Key challenges observed in the migration to ISO 20022 by bank as of the 3rd quarter of 2022
- Premium Statistic Annual number of real-time payments with Bizum in Spain 2020-2022
Annual number of real-time payments with Bizum in Spain 2020-2022
Total number of real-time (instant) A2A payments transactions processed with Bizum in Spain from 2020 to 2022
- Premium Statistic Customer demands on payments as perceived by payment service providers 2022
Customer demands on payments as perceived by payment service providers 2022
Key demands for payments as communicated by client bases and banks and payment service providers feel they must meet in 2022
- Premium Statistic Annual number of instant payment transactions in the UK 2008-2022
Annual number of instant payment transactions in the UK 2008-2022
Total number of real-time payment transactions in the United Kingdom (UK) with local scheme Faster Payments (FP) from 2008-2022 (in millions)
- Premium Statistic Monthly user count of Pix in Brazil 2021-2023
Monthly user count of Pix in Brazil 2021-2023
Number of persons and companies that use Pix in Brazil from June 2021 to May 2023 (in millions)
- Premium Statistic Volume of UPI digital payments across India FY 2017-2024
Volume of UPI digital payments across India FY 2017-2024
Volume of UPI-based digital payments across India from financial year 2017 to 2024 (in millions)
- Premium Statistic Value of UPI digital payments across India FY 2017-2024
Value of UPI digital payments across India FY 2017-2024
Value of UPI-based digital payments across India from financial year 2017 to 2024 (in billion Indian rupees)
- Premium Statistic Monthly number of users of real-time payment scheme Bizum in Spain 2016-2023
Monthly number of users of real-time payment scheme Bizum in Spain 2016-2023
Number of registered users of real-time (instant) and A2A payment scheme Bizum in Spain from 2016 to 2023
- Basic Statistic Penetration rate of instant payments in Portugal 2022
Penetration rate of instant payments in Portugal 2022
Share of people who have access to instant payments in Portugal in 2022
- Basic Statistic Penetration rate of instant payments in Finlandl 2022
Penetration rate of instant payments in Finlandl 2022
Share of people who have access to instant payments in Finland in 2022
- Premium Statistic Average UPI ticket size in India FY 2018-2024
Average UPI ticket size in India FY 2018-2024
Average Unified Payments Interface (UPI) ticket size in India from financial year 2018 to 2024 (in Indian rupees)
- Premium Statistic Financial institutions using Pix as of June 2023, by type
Financial institutions using Pix as of June 2023, by type
Number of financial institutions adopting Pix as a payment method as of June 2023, by type
- Premium Statistic Transaction value of real-time payments SEA 2021-2026, by country
Transaction value of real-time payments SEA 2021-2026, by country
Transaction value of real-time payments (RTP) in Southeast Asia in 2021 with a forecast for 2026, by selected country (in billion U.S. dollars)
- Premium Statistic Monthly number of Pix keys in Brazil 2021-2023, by type
Monthly number of Pix keys in Brazil 2021-2023, by type
Number of Pix keys registered in Brazil from June 2021 to May 2023, by type (in millions)
- Premium Statistic Annual instant payment spending, including Vipps, in Norway 2017-2022, in NOK and USD
Annual instant payment spending, including Vipps, in Norway 2017-2022, in NOK and USD
Value of real-time payments in Norway, including local scheme Vipps, from 2017 to 2022 (in million Norwegian kroner, and estimates in U.S. dollars)
- Premium Statistic Annual number of instant payment transactions in Mexico 2019-2022, per capita
Annual number of instant payment transactions in Mexico 2019-2022, per capita
Total number of real-time payment transactions in Mexico with local scheme CoDi from 2019 to 2022
- Premium Statistic Annual instant payment spending in the UK 2008-2022, in local currency and USD
Annual instant payment spending in the UK 2008-2022, in local currency and USD
Value of real time payments in the United Kingdom (UK) with local scheme Faster Payments (FP) from 2008 to 2022 (in million GBP, and estimates in U.S. dollars)
- Premium Statistic A2A payments in e-commerce in 6 countries in LATAM 2016-2023, with 2027 forecast
A2A payments in e-commerce in 6 countries in LATAM 2016-2023, with 2027 forecast
Market share of account-to-account (A2A) payments in domestic e-commerce payments in 6 countries and territories in Latin America from 2016 to 2023, with a forecast for 2027
- Premium Statistic A2A payments in e-commerce in 14 countries in Asia 2016-2023, with 2027 forecast
A2A payments in e-commerce in 14 countries in Asia 2016-2023, with 2027 forecast
Market share of account-to-account (A2A) payments in domestic e-commerce payments in 14 countries and territories in Asia-Pacific (APAC) from 2016 to 2023, with a forecast for 2027
- Premium Statistic A2A payments in e-commerce in four countries in MEA 2016-2023, with 2027 forecast
A2A payments in e-commerce in four countries in MEA 2016-2023, with 2027 forecast
Market share of account-to-account (A2A) payments in domestic e-commerce payments in four countries and territories in the Middle East, Africa (MEA) from 2016 to 2023, with a forecast for 2027
- Premium Statistic A2A payments in e-commerce in 14 countries in Europe 2016-2023, with 2027 forecast
A2A payments in e-commerce in 14 countries in Europe 2016-2023, with 2027 forecast
Market share of account-to-account (A2A) payments in domestic e-commerce payments in 14 countries in Europe from 2016 to 2023, with a forecast for 2027
- Premium Statistic Biggest A2A payments brands in Latin America in 2023, based on number of transactions
Biggest A2A payments brands in Latin America in 2023, based on number of transactions
Brands with the highest number of A2A payments transactions per month in Latin America in 2023 (in millions)
- Premium Statistic Most promising options for central banks to help improve cross-border payments 2023
Most promising options for central banks to help improve cross-border payments 2023
Key avenues that central bank consider to have the most promise to improve cross-border payments in 2022 and 2023
- Premium Statistic Opinion of banks on why to modernize their cross-border payment strategy 2023
Opinion of banks on why to modernize their cross-border payment strategy 2023
Key factors considered by banks for future modernization of cross-border payments as of 2023