GITNUX MARKETDATA REPORT 2024

Payment Processing Duration Statistics

The average payment processing duration is 3 business days.

Statistic 1

"The average transaction speed of an online credit card payment is 1-3 seconds."

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Statistic 2

"According to Elavon's data, authorization and settlement usually takes place within 48 hours."

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Statistic 3

"PayPal transactions are usually processed instantly."

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Statistic 4

"Processing a payment transaction with PayKings typically takes about 10 seconds."

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Statistic 5

"Visa's processing time for a payment transaction usually reaches up to 5 seconds."

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Statistic 6

"MasterCard takes a maximum of 2 seconds to process a payment transaction."

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Statistic 7

"94% of payments through electronic bank payment (ACH) transactions are processed within 4 minutes."

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Statistic 8

"On Trustly, the average payment processing duration is within an hour."

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Statistic 9

"Braintree, a service of PayPal, commits to settling payment with merchants by the next business day."

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Statistic 10

"Square's standard time to process payments and transfer it to a bank account is between 1 and 2 business days."

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Statistic 11

"Around 88% of Klarna's successful transactions get approved within mere seconds."

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Statistic 12

"Payments made through Apple Pay are processed instantly."

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Statistic 13

"Google Pay transactions are usually processed instantly."

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Statistic 14

"Customers typically wait a maximum of 3-5 seconds for American Express payments to process."

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Statistic 15

"Rapid transfer's instant banking option enables customers to pay within a few seconds."

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Statistic 16

"Check processing times can take 2-3 business days in the U.S according to JP Morgan."

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Statistic 17

"Interac's e-Transfer, used in Canada, typically takes 30 minutes to process."

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Statistic 18

"80% of Chinese users find mobile payment processing duration satisfactory, pointing to high efficiency."

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Statistic 19

"Overall, the global average time for blockchain transactions (for example, cryptocurrencies) was between 10 and 20 minutes in 2020."

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