8 minute read 23 Feb. 2023
lady paying digitally for cappuccino

Accelerating the adoption of real-time payments

By Diana Halder

EY Canada Payments Partner

Payments strategy and delivery professional. Diversity and inclusion advocate. A change agent and proud idealist.

8 minute read 23 Feb. 2023

Real-time payments (RTP) have spread quickly owing to increased demand for instantaneous money movement by consumers and businesses, regulations and advances in technology.

The deployments of real-time payments (RTP) are at an all-time high due to innovations in technology, changes in regulations and customer demand for easier access to funds. However, the maturity and adoption rates of RTP vary by region.

Although the base RTP infrastructure is a step towards the future of payments, the true value of RTP is realized when surrounded with value-added services such as request to pay, fraud and liquidity management tools.  Financial institutions, paytechs and big techs would benefit from providing these overlays not only to increase their bottom lines but to increase volumes on the rail itself. 

Could this really be a win-win for all parties in the ecosystem?  

 

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Summary

The world is shifting to a new age when instantaneous payments are the norm. Are you ready to take advantage? Download the report to learn more. 

About this article

By Diana Halder

EY Canada Payments Partner

Payments strategy and delivery professional. Diversity and inclusion advocate. A change agent and proud idealist.