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The Growth of Real-time and Faster Payments Is Driving Consumer Demand

Mercator Advisory Group releases new research that analyses the growth and impact of faster and real-time payments in the U.S.

Image of Samantha Herron By Samantha Herron.
Updated Mar 21, 2022

BOSTON (PRWEB) March 21, 2022 - 2021 was an important build-out year for real-time and faster payments in the U.S., as explored in Mercator Advisory Groups annual look at the market; 2022 U.S. Faster Payments Forecast: A Year to Build On. Payment options such as the debit networks debit push payments, The Clearing House RTP network, Same Day ACH, and Zelle all experienced strong growth dependent on the specific use cases where each predominates and the maturity of their respective solutions. Following through on the pandemic fueled growth in 2020, more financial institutions and technology providers integrated to faster and real-time rails, launched new products, and advanced their strategies.

We have found in the last year that consumers are becoming much more aware that some payments transact quickly, even instantly, which for transaction types like bill pay, account-to-account transfer and some person-to-person funds movement is beneficial. This leads to a compounding effect that is creating greater demand for faster payments in more use cases, comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group and author of the report.

Highlights of the report include:

This report has 18 pages and 9 exhibits.

Companies mentioned in this report include: Alloy Labs Alliance, Bank of America, Bank of the West, Block, BNY Mellon Bank, Chime, Citibank, Early Warning Services, JPMorgan Chase, Mastercard, PayPal, PayRailz, The Clearing House, US Bancorp, Visa, Wells Fargo

Members of Mercator Advisory Groups Debit Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.

For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700, send e-mail to info@mercatoradvisorygroup.com.

For free industry news, opinions, research, company information and more visit us at http://www.PaymentsJournal.com.

About Mercator Advisory Group Mercator Advisory Group, part of the Escalent family, is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.