As a result of the Covid-19 pandemic, digital and real-time payments have undergone a decade’s worth of innovation within just a couple of years. According to ACI’s latest Prime-Time for Real-Time report, by 2026, 25% of global electronic payments will be real-time based. In the European Union (EU), however, the figure is predicted to be only 12.5% while in India and South Asia, it is likely to be 80%. Clearly, an innovation gap is emerging.
The impetus to modernise, however, should extend beyond closing this gap. ACI's 2022 report reveals for the first time that real-time payments can drive economic growth – and financial inclusion.
To promote the advancement of real-time payments and its resulting benefits for the economy, the EU commissioner for financial affairs has considered mandating the use of real time, while the UK government is working to sharpen its New Payments Architecture programme. But advancement in this area must happen alongside strong investment in sophisticated fraud monitoring and prevention tools to successfully fight and prevent real-time fraud.
This Finextra webinar, hosted in association with ACI Worldwide, will explore:
- In the race to real-time, who are the frontrunners and who are the laggards?
- The impact of real-time on economic growth – who are the winners and who are the losers?
- What is the EU and the UK doing to drive the advancement of real-time?
- How should the rise of real-time payments fraud be combatted?
- What impact will the advancement of real-time have on digital wallets?
- Why Cloud is an enabler for real-time payments?
- The role of governments in the advancement of real-time
Speakers:
- Gary Wright - Head of Research, Finextra
- Jeremy Wilmot - Chief Product Officer, ACI Worldwide
- Craig Ramsey - Head of Real-Time Payments, ACI Worldwide
- Sam Murrant - Lead Analyst, GlobalData Plc
- Francis De Roeck - Head of Industry Engagement for Payments, Global Cash Management, BNP Paribas