Real-time payment methods and usage vary from one type of firm to other. For example, large U.S.-based firms make use of real-time payments for B2B.
8% of the 9% of the payment made uses real-time payments in the United States. The stats are average business activities. The average market-making about 4% of real payment rails.
To be clear, different sizes of firms gets different percentage in real-time pay. They make use of citing in a very different way. It varies from one kind of percentage to the other.
24/7 year-round is one of the main benefits. They seek to adopt real-time pay as an ability to top up the customer experiences. 42% of US firms believe in the same feature. They are all mid-market U.S. firms.
Another benefit is the instant deposit. It is also called out to 22% of the largest market firms. And 14% to mid-market firms.
Flexibility is also a major factor in the acceptance of real-time payments. We will see 16% of large-market firms and 9% of mid-market firms. So there is a benefit to the adoption of real-time pay.
The generic pain point firms believe to expect is the use of real-time pay. There is a need for the utilization of real-time pay. The current system faces a cost to support, or you can say integrate issues.
The picture for real-time pay is pretty clear. The large market firm will continue to receive two times the real-time payments as mid-market firms. There is a display of advantageous yet real-time payments. This will directly put mid-market firms at a competitive disadvantage.
Real-time pays hold the ability to accelerate payments. However, the pain point areas continue to be the current system and unalterable budgets. It accounts for almost 59% and 46% of the pain point among different firms. The survey covers more than 400 companies.
