Real-Time Payments Economic Impact and Financial Inclusion

This report, titled 'Real-Time Payments: Economic Impact and Financial Inclusion,' outlines the significant economic benefits associated with the adoption of real-time payment systems across 40 countries. It presents empirical evidence linking real-time payments to financial inclusion, indicating that these systems provide affordable financial services to previously unbanked populations, thereby lifting millions out of poverty. The report details how real-time payments enhance market efficiencies by allowing instant money transfers, which result in substantial savings for consumers and businesses. It forecasts that real-time payments will contribute $285.8 billion to GDP by 2028, marking a 74.2% increase over five years. Additionally, it highlights the profit opportunities for banks, with billions in new profits anticipated due to the financial inclusion uplift. The findings emphasize the role of real-time payments in formalizing economies and boosting treasury revenues, ultimately benefiting citizens, businesses, and governments alike.