GITNUX MARKETDATA REPORT 2024

Instant Payment Industry Statistics

Instant payment industry is experiencing rapid growth, with increasing adoption rates and transaction volumes expected to continue rising in the coming years.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we explore the significant impact of instant payments on the global financial landscape, backed by a series of compelling statistics. From the rapid growth of mobile instant payments in the UK to the staggering transaction volumes in China and Italy, the data paints a clear picture of the exponential rise of instant payment systems worldwide. Join us as we delve into the transformative trends shaping the instant payment industry.

Statistic 1

"Instant payments accounted for 17.4% of total U.S. payments in 2018."

Statistic 2

"Instant and digital payments may account for nearly half of all payments by 2022."

Statistic 3

"In the UK, mobile instant payments grew by 28% in 2019."

Statistic 4

"In 2021, an estimated $4.27 trillion of payments was transacted through instant payment systems globally."

Statistic 5

"In the years 2018 and 2019, 35 central banks worldwide launched instant payment schemes."

Statistic 6

"In China, mobile instant payments are expected to exceed $36 trillion by 2023."

Statistic 7

"The adoption of instant payment solutions by merchants globally will process more than $9 trillion in transaction value by 2024."

Statistic 8

"In 2019, 67.5% of Italian businesses had adopted instant payments."

Statistic 9

"By 2023, the global instant payments market is expected to reach a volume of $18.5 trillion."

Statistic 10

"In 2018, instant payment transactions accounted for 4.26% of total U.S. non-cash transactions."

Statistic 11

"In 2020, Nigeria's instant payment transactions hit a record 2.5 billion."

Statistic 12

"The use of instant payments is expected to grow by 500% in the Asia Pacific over the next five years."

The statistics presented indicate a significant and rapid growth in the adoption and usage of instant payment systems globally. From the increase in market share of instant payments in countries like the U.S. and the UK, to the substantial transaction volumes projected for the near future, it is clear that instant payments are becoming a dominant force in the financial industry. The statistics highlight the increasing importance of mobile instant payments, the emergence of new instant payment schemes, and the widespread acceptance of instant payment solutions by businesses. With such promising growth trends and vast market potential, the future of instant payments looks exceedingly bright, positioning it as a crucial component of the evolving payments landscape.