The launch of wero digital wallet in Europe, Project Nexus’ move to live implementation to enable interoperability between instant payment systems, and other recent developments point to the acceleration of cross-border instant payments.

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Summary

Real-time payments are not new, but as the supporting technology and regulatory requirements have grown, the pace and scale of innovation have accelerated in recent years. This summary looks at recent developments in cross-border real-time payments, which have been picking up pace globally, and why issuers and acquirers are being pushed to upgrade their systems in anticipation of further developments.

Nearly 45% of issuers and acquirers prioritize investments in real-time payments

 Inspired by the success of PIX in Brazil and UPI in India, the EU has mandated its members to support real-time payments. This pace of development has been driving investment in payments-related software. According to the 2024 Omdia IT Enterprise Insights survey, nearly 45% of issuers and acquirers indicated that real-time payments are among their top three priorities in terms of product development, slightly behind digital wallets and debit and credit cards.

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