Instant Transactions Are More Than Convenient
Marc Sacal is the CEO of AstroPay, a global payments company, where he drives innovation and growth in cross-border financial solutions.
The global financial landscape is undergoing a seismic shift, and at the heart of this transformation is the rise of real-time payments. Gone are the days when consumers and businesses tolerated the sluggish pace of traditional banking infrastructure.
Why should payments be any different in an age where a post can reach millions in seconds and a streaming service can deliver entertainment on demand? The ability to move money seamlessly across borders and around the clock is no longer a luxury; it’s an expectation.
The demand for instant, seamless financial transactions isn’t just a passing trend—it’s an irreversible shift redefining commerce, financial inclusion and global business.
As a leader at a global payments company, I’ve learned that real-time payments aren’t just a technological upgrade for existing systems; they’re part of a financial revolution.
The Need For Speed: Instant Transactions As The New Standard
Across the globe, financial institutions and governments are racing to catch up to the demand and expectation for real-time payments. In Europe, regulators have mandated that all payment service providers (PSPs) receive real-time payments by early 2025 and send them by late 2025. This isn’t just regulatory housekeeping, either. It’s an acknowledgment that businesses and consumers will no longer tolerate the delays of traditional banking infrastructure. Instead, transactions will clear instantly, 24/7, revolutionizing commerce and financial planning.
Beyond speed for convenience, real-time payments are about empowerment. A gig worker in Southeast Asia or a content creator in Africa shouldn’t have to wait days or weeks for funds to clear through outdated banking rails.
In emerging markets, workers can access their earnings instantly, reinvest in their businesses and manage their finances with agility. India’s Unified Payments Interface (UPI) facilitated over 172 billion transactions in 2024, a 46% increase from 2023, revolutionizing access to financial services. Brazil’s Pix, launched in 2020, is now the country’s most popular payment method, processing over six billion monthly transactions in 2024. That was 80% higher than the combined total for credit and debit card transactions.
For those who choose real-time payments over traditional methods, the impact is clear: You could see greater financial stability, improved cash flow management and the ability to reinvest earnings more quickly, which ultimately leads to sustained growth and enhanced financial well-being.
Cross-Border Transactions: A Revolution In Global Connectivity
Global networks must allow businesses and individuals to transact in their preferred local currencies, leveraging real-time technology to facilitate instant, low-cost, cross-border payments. The potential is immense: Businesses can expand into new markets without facing financial roadblocks, while individuals can access their money without bureaucratic delays.
Why? Because real-time payments aren’t just about speed; they’re about breaking down financial barriers. Historically, cross-border transactions have been plagued by high fees, currency conversion complexities, and sluggish processing times. However, the evolution of real-time payment networks is dramatically reducing this friction.
Here are just a few examples: In the Middle East, new regional real-time payment systems are enabling near-instant transfers between Gulf Cooperation Council (GCC) nations, eliminating currency fluctuation risks. In Cyprus, payments within 10 seconds will soon become the norm. Meanwhile, in Egypt, central banks are introducing 24/7 instant international transfer systems that align with broader financial initiatives.
Despite this progress, there’s still more work to be done. While traditional banks have struggled to keep pace with the demand for seamless cross-border transactions, neobanks and global fintech firms are uniquely positioned to bridge these gaps. Their agility, tech-first approach and ability to integrate across diverse financial ecosystems make them the best-suited providers to deliver truly frictionless international payments in the near future.
Empowering Freelancers, Gig Workers And Everyday Consumers
Real-time payments are not just transforming business transactions; they’re fundamentally reshaping the way individuals take control of their financial lives, offering them unprecedented speed, flexibility and security in an increasingly digital world. For freelancers and gig workers, the ability to receive instant payments is a game changer. It eliminates the traditional wait time associated with payroll cycles and gives them greater control over their earnings. Independent workers no longer have to deal with delayed bank transfers or high fees when withdrawing their income from international clients.
For consumers today, waiting for payments to process isn’t just inconvenient; it’s unacceptable. Whether buying something online, splitting a bill or sending money across borders, people expect their money to move instantly. The idea of waiting days for funds to clear? That’s a relic of the past. Real-time payments aren’t a luxury anymore; they’re the standard (and anything less feels outdated).
From content creators monetizing their work in real time to remote workers receiving international payments without excessive conversion fees, the impact of real-time transactions is profound. These advances empower people to take full control of their financial lives, ensuring faster, more efficient and more accessible money management in a connected world.
What’s Next: The Future Of Real-Time Payments
The real-time payments revolution is about more than moving money faster—it’s about reimagining the financial ecosystem. In 2023, real-time payments boosted the gross domestic product across 40 countries by $164 billion, equivalent to the labor output of 12 million workers. By 2028, GDP contributions from real-time payments are projected to reach $285.8 billion, a 74% increase from 2023.
Embedded finance is rapidly integrating RTP into everyday business operations, making seamless transactions the default rather than the exception. Meanwhile, AI-powered payment systems are personalizing user experiences, optimizing cash flow, and predicting financial behaviors before they even happen.
But let’s be clear: This transformation is still in its early stages. While real-time payments are becoming mainstream in many parts of the world, significant gaps remain. Regulatory harmonization, interoperability between networks and continued innovation will be key to ensuring this revolution reaches every corner of the globe.
One thing is certain: The days of waiting for payments to clear are numbered. Real-time payments are here to stay and will continue to drive economic growth, financial inclusion and global connectivity in ways we are only beginning to understand. Technology, regulation, and evolving consumer expectations are shaping the future of payments.
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