JACKSONVILLE, Fla.—Deployments of real-time payment systems are surging worldwide, according to new research.
In its fifth annual Flavors of Fast report, FIS identifies 40 active real-time payment programs worldwide, up from 25 in 2017, and nearly three times as many as the company's inaugural 2014 study, Mobile Payments Today stated in its analysis.
“Further, the report identifies five payments programs under development, plus another 16 expected to be live in the next 12 to 18 months, double the number of programs on the radar in 2017, Mobile Payments Today explained.
"We live in a now world. Consumers are demanding more transparency, certainty and immediacy when moving their money, and they won't settle for incremental innovation," Raja Gopalakrishnan, head of Global Payments for FIS, said in a release. "Financial institutions are responding in growing numbers — modernizing their payment infrastructures to provide real-time payment capabilities that demonstrate their value to customers."