मार्च 13, 2025
Beyond merely expediting settlement and clearing processes or offering merchants improved cash flow, real-time payments are proving to be a game-changer on a global scale. According to the Real-Time Payments: Economic Impact and Financial Inclusion report by ACI Worldwide, these payments are integrating millions into the financial system, unlocking new opportunities for financial institutions, and enhancing cost efficiency for consumers, businesses, and governments alike.
Published in collaboration with the Centre for Economic and Business Research, the report establishes an empirical link between real-time payments and financial inclusion. This connection translates into greater financial security, entrepreneurship, digital progress, and a broader scope of banking services, highlighting the profound societal and economic benefits of financial accessibility.
As the introduction to the report asserts, “Real-time payments offer benefits to every participant in the global payments ecosystem.”
Driving Growth Across All Levels of Society
The study, which examines financial trends across 40 nations, leverages historical banking data and predictive modeling to highlight key insights:
- In 2023, real-time payments contributed $164 billion to the collective GDP of these 40 nations—the equivalent of 12 million full-time jobs.
- By 2028, this contribution is projected to rise to $285.8 billion, reflecting a 74% growth.
With transactions processed instantly rather than over days, real-time payments serve as catalysts for economic expansion at every level. The report identifies how they drive efficiencies across diverse economies and industries, examining regional trends in Africa, the Asia-Pacific, Europe, Latin America, the Middle East, and North America.
Growth drivers differ by region: Africa’s youthful population fuels a thriving real-time payment ecosystem, while North America experiences a more gradual transition. Yet, across continents, the broader narrative is clear—real-time payments are reshaping economies and broadening financial opportunities for businesses and individuals.
Expanding Financial Inclusion
The report delves deeply into financial inclusion, analysing data from 28 countries to map the relationship between real-time payments and broader access to financial services. By 2028, an estimated 167 million people who were previously unbanked are expected to gain access to financial services. The 10 countries poised for the greatest expansion in financial inclusion represent a mix of emerging and developed economies:
- Pakistan leads the way, with 63.5 million people expected to enter the banking system by 2028.
- Turkey, ranked tenth, anticipates 1.5 million newly banked individuals.
- Major economies like China (13.8 million) and the United States (4.9 million) hold fifth and seventh place, respectively.
While developing economies experience the most pronounced effects, real-time payments are also making financial services more accessible in advanced markets. Historically marginalised populations now have access to affordable and efficient financial tools, enabling them to avoid predatory fees and unreliable lending options.
Real-time payments eliminate obstacles associated with excessive fees and delayed transactions, reducing the penalties incurred from late payments. By leveraging mobile wallets, QR codes, and digital banking apps, individuals previously excluded from traditional banking structures can now access financial products that improve their quality of life.
Financial fees disproportionately affect unbanked and underbanked communities. For instance, a study by the U.S. Consumer Financial Protection Bureau found that overdraft and non-sufficient funds fees average $35. Nearly half of consumers were unprepared for these charges, with lower-income households being the most affected due to income instability and reliance on paycheck-to-paycheck living. Real-time payments mitigate these challenges by providing instant access to funds and reducing the uncertainty surrounding transaction timing.
Empowering Merchants and Banks
The transformative power of real-time payments extends well beyond consumers. Businesses, particularly merchants, benefit significantly by reducing or eliminating transaction fees and gaining instant access to funds. This immediate liquidity is especially critical for businesses dependent on daily cash flow. Additionally, real-time transactions enhance inventory management and reduce operational costs.
According to the ACI Worldwide report, real-time payments generated $116.9 billion in savings for consumers and businesses in 2023 due to lower transaction costs and improved cash flow management. By 2028, these savings are expected to reach $245.8 billion.
Even at the smallest commercial levels, the impact is evident. Like Thailand, ranked ninth among nations benefiting from financial inclusion uplift, noted a significant shift: Street vendors who once relied solely on cash now display QR codes for payments.
When payments are made directly from a bank account, vendors instantly confirm transactions. The process is seamless, and adoption rates are soaring. These newfound efficiencies present significant growth opportunities for financial institutions. The report outlines the top markets where banks can expect increased revenue by 2028 through real-time payment adoption and new customer acquisition. Pakistan leads with an anticipated $173 billion profit surge, followed by Argentina at $3.4 billion. Other major economies—India, China ($21.2 billion), the United States ($18.9 billion), and Brazil ($8.9 billion), also rank among the top 10.
The rapid influx of newly banked individuals provides financial institutions with the chance to develop innovative products and nurture long-term customer relationships.
As the report underscores, “Real-time payments have emerged as a driving force for economic and social transformation, paving the way for a more inclusive financial future.”
