United States Faster and Real-time Payments Market Report 2021: Pace of Adoption Accelerated in the U.S. During 2020

Research and Markets
·2 min read

Dublin, March 05, 2021 (GLOBE NEWSWIRE) -- The "U.S. Faster Payments Forecast: The Volume Begins to Build" report has been added to ResearchAndMarkets.com's offering.

The pace of real-time and faster payments adoption accelerated in the U.S. during 2020 as explored in new research, U.S. Faster Payments Forecast: The Volume Begins to Build.

Solutions such as debit push payments, The Clearing House RTP network, Same Day ACH, and Zelle all experienced strong double-digit and even triple-digit growth in certain use cases. Gains were in part due to the unique environment created by the global pandemic which values fast digital payment types, plus the simple fact that financial institutions and fintechs alike continued to integrate and launch new payment options for customers and members.

"More financial institutions completed technical integrations with faster and real-time networks, not only driving transactions from their customers and members for these products, but also beginning to drive internal efficiencies leveraging the new payment rails for account transfers, vendor payments, or payments from clients for loans and credit cards.

Faster and real-time payments came to the rescue during the global pandemic, providing more convenient P2P transactions and opportunities including same day settlement for smaller retailers who appreciated receiving their merchant settlement more quickly," comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service.

Highlights of the report include:

  • A view into the current state of progression for The Clearing House RTP system, Early Warning's Zelle network, the global debit networks' push payments and Same Day ACH

  • A forecast for dollar volumes processed for each of the networks

  • Discussion of some of the misnomers and myths circulating about faster and real-time payments

  • Current use cases where faster payments are succeeding

  • Where the next wave of faster payments growth is likely to emerge

Key Topics Covered:

Executive Summary

Introduction

  • A Definition

  • Dispelling Some Myths

Where the Market is Growing Now on Available Networks

  • FedNow

Debit Card Network Push Payments

  • RTP

  • Same Day ACH

  • Zelle

Conclusion: Three Key Drivers that Will Power the Next Wave of Growth

References

  • Related Research

  • Endnotes

For more information about this report visit https://www.researchandmarkets.com/r/exvv9z

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900