Despite the fact card and online payments may look very fast to us, they are not taking place instantly. Indeed, instant payments are transactions that are completed within ten seconds. This new payment innovation, which is currently led by Europe, will reach $18 trillion in 2025; generating a growth of over 500%. This represents 17% of all B2B and consumer digital money transfer and banking payments by value in 2025. It is therefore safe to say that instant payments have the potential to disrupt the current payments landscape.
A new study from Juniper Research has found that the long-lasting economic impact of the COVID-19 pandemic means that cross-border values will only exceed 2019 values by 2022; highlighting the effect that this major economic disruption will have on businesses around the world. As a result, we predict slow growth in B2B Cross-border Payments; reaching $35 trillion in 2022; representing a 30% growth from a COVID-related low of $27 trillion in 2020.