Study Reveals Strong Demand for Real-Time Payments

Most consumers want payment services from their primary financial institutions.

Offering real-time payments can increase convenience and help consumers better manage their financial lives, according to a study released by FIS.

The report also reveals that consumers look to their primary financial institutions as the first choice for real-time payment services.

The study gauged consumer sentiments about the ability to instantly authorize and settle transactions in four key market groups: outbound foreign money transfer users, account-to-account (A2A) transfer users, person-to-person (P2P) payment users, and online bill payers.

The study sought to better understand the challenges consumers face with payments and how real-time payments can solve them. It also examined how real-time payments influence how consumers choose payment methods.

Overall, the study underscored that real-time payments resonate with consumers and that the immediate availability of funds is very important, both from a sender and a receiver perspective.

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