Marisa Rama’s Post

Eight years ago, the Indian government pulled off something no one thought it could: almost overnight, it launched a real-time payment system that covered the entire country and transformed the way people paid for everyday transactions. Today that system—the Unified Payments Interface (#UPI)—has more than 350 million users and has turned into nothing short of a revolution in the payments world. It was also one of the most successful moves in a worldwide surge of national real-time payment methods (#RTPs), which allow for instant settlement of funds between parties.

This is a great blog post from my colleague Marisa Rama on the rise of real-time payment methods. I highly recommend to anyone interested in payments or the future of finance! #payments, #realtimepayments

🎄#24DaysOfPayments🎅 – advent calendar of payments and history 𝗗𝗲𝗰 𝟵: 𝗧𝗵𝗲 𝗳𝗼𝗿𝗰𝗲𝘀 𝗯𝗲𝗵𝗶𝗻𝗱 𝘁𝗵𝗲 𝗿𝗶𝘀𝗲 𝗼𝗳 𝗿𝗲𝗮𝗹-𝘁𝗶𝗺𝗲 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 ⚡ 𝘊𝘰𝘮𝘮𝘦𝘯𝘵 𝘵𝘰 𝘴𝘶𝘣𝘴𝘤𝘳𝘪𝘣𝘦 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘴𝘦𝘳𝘪𝘦𝘴 Today we'll have a guest post on the advent calendar by Marisa Rama. She wrote an excellent post on why real time payments (RTPs) are being adopted globally and what that means for the future of payments! How did real-time payments (RTPs) take off so quickly around the world? Let's dive into some key insights from Marisas blog post on this financial revolution: 🌐 Infrastructure Comes First: The success of RTPs depends heavily on long-existing infrastructure, like bank rails that facilitate instant fund transfers. For instance, the earliest system, Zengin, launched in Japan back in 1973! 📱 Rise of Mobile Banking: The spread of smartphones and apps drastically changed the game. Banks integrated RTPs, allowing users to send money with just a phone number or alias, making transactions frictionless and encouraging adoption. 🏪 Banks, Consumers, and Businesses in Sync: For RTPs to succeed, banks made them user-friendly, consumers embraced them as cash alternatives, and businesses saw benefits like lower costs and reduced fraud. Governments played roles too, as seen in Brazil and India, where RTPs like Pix and UPI have transformed how people pay. Full article here: https://lnkd.in/dHhpQU6M #payments #history Subscriber tag: Daniel Hanemann Simon De Roo Cosmina Sipos Sebastian Warnke Philipp Nobis James Lemon

Proximity mobile payment transaction value will grow 21.4% this year and by double digits through the end of 2028, according to a recent EMARKETER report. #mobilepayments #qrcodepayments #mobilewallets #digitalpayments #digitalwallets

Report: Instant Economy Payment Insights! We explore the #InstantEconomy by examining online consumer behavior and their payment preferences. With a specific focus on the growing domain of #PayByBank. If you read it you will find - Insights into the shift from legacy payments towards #instantpayments and more flexible alternatives. - The critical role of speed, security, and simplicity in shaping the future of online payments. - Key statistics that reveal the younger generation’s preferences towards Pay by Bank and Digital Wallets – and what that signals. You can download the report by following this link: https://bit.ly/3IJb1la

When finally #Instantpayments #regulation came out and its challenging timelines were officially set, some comments I received where that it was something known, which is indeed true. However, lets not forget instant payments adoption and use is not harmonized across #Europe and therefore some #PSPs and #financialentities are struggling to meet the deadlines. Also worth noting that "ticking the box" is not the same as being fully ready for a new instant payments paradigm of universal use. We from #IBMConsulting can help either way, so do reach out if that is your case! #SEPAInstant #SCTInst #payments

With digital wallets, instant payments, and alternative options like Venmo and Cash App gaining popularity, consumers’ payment preferences are evolving rapidly. Surprisingly, it’s fully banked, high-income individuals who are leading the charge toward digital transactions. According to a recent study by the Atlanta Fed, these individuals complete over 85% of their transactions digitally, while those using alternative methods alone reach only 57%. Meanwhile, unbanked and underbanked consumers still rely heavily on cash and debit cards, and instant payments could be the key to breaking down accessibility barriers. As the payment landscape transforms, the question arises: can banks leverage this shift to create inclusive and innovative solutions for all? #DigitalPayments #FinancialInclusion #FutureOfBanking

Mobile wallets are on the rise in Canada 📱💸 Adoption has surged post-pandemic, with 51% of consumers now using mobile wallets and daily usage skyrocketing. What’s driving it all? Speed, convenience, and a shift in consumer habits. Read more about this payment revolution and what it means for businesses and consumers 👉 https://hubs.li/Q02RfN5K0 #MobilePayments #DigitalWallets #Fintech #PaymentTrends

Mobile wallets are on the rise in Canada 📱💸 Adoption has surged post-pandemic, with 51% of consumers now using mobile wallets and daily usage skyrocketing. What’s driving it all? Speed, convenience, and a shift in consumer habits. Read more about this payment revolution and what it means for businesses and consumers 👉 https://hubs.li/Q02RfK0q0 #MobilePayments #DigitalWallets #Fintech #PaymentTrends

Did you know that more than one third of 18-29 year-olds use Pay by Bank every week? Brite Payments Instant Economy Payment Insights report highlights #PayByBank as a true game-changer in the world of digital payments. The younger generation is not only embracing the digital payments revolution, but they are also driving it. Additionally, the study shows that consumers across all ages are familiar with PayByBank. The numbers speak for themselves: 🌍 Widespread Familiarity 🌍 73% of consumers across our surveyed markets are familiar with Pay by Bank, showcasing its potential to redefine payments. 🔒 Prioritising Speed & Security 🔒 42% of consumers appreciate Pay by Bank’s transaction speed, and 46% value its high security. ✨ Ease of Use ✨ 55% of regular Pay by Bank users opt for the payment method because of its ease of use. ➡️ Download the full report here ➡️ https://bit.ly/3vsqdjo As we navigate the future of payments, the question remains: How can businesses further integrate and optimise Pay by Bank to enhance the consumer experience? I’d love to hear your thoughts! Share them in the comment below. #PaymentInsights #InstantEconomy #BritePayments #Fintech