New Data Shows Real-Time Payments Continue Rapid Global Advance

Real-Time Payments World Map - April 2024

Real-time payments’ momentum continues in 2024, with Qatar and the Eastern European nation of Moldova joining the list of national players, while FinTech Prometeo introduced a new account-to-account (A2A) product in Mexico enabling instant payments between bank accounts. The latest “Real-Time Payments World Map,” a collaboration with The Clearing House, describes how growing demand is driving the rapid expansion of instant transactions worldwide.

Inside the April World Map
  • Qatar Islamic Bank (QIB), a leading digital financial institution (FI), recently introduced the Fawran instant payment service, which users can access through the QIB Mobile App.
  • Sweden is expanding its real-time payment capabilities by joining the Eurosystem’s TARGET Instant Payment Settlement (TIPS), becoming the first non-Eurozone country to do so.
  • Mexico has adopted Uruguayan Fintech Prometeo’s innovative account-to-account payments system, which employs a single application programming interface (API) to enable instant payments between bank accounts.

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