A new study conducted by Juniper Research found that instant payments, where transactions are completed within ten seconds (such as Samsung Pay, Apple Pay etc), will reach $18 trillion in 2025. For comparison, this figure is expected to be $3 trillion in 2020, an increase of 500%.
In 2025, instant payments will make up 17% (in value terms) of all money transfers between enterprises, consumer payments in digital form and bank payments in 2025. According to the forecast, the driving force of innovation is Western Europe, and by 2025 it will account for 38% of the total value of instant payments.
Analysts expect that the success of internal instant payment schemes will allow cross-border suppliers to connect different schemes to cross-border networks, which will radically reduce the time, costs and inconveniences associated with the existing ecosystem of cross-border payments. However, it will also require large international market players to review their business models as the market fundamentals change.