According to Worldpay’s Global Payments Report 2022, 20 European countries are part of the centralised instant SEPA credit transfer (SCT Inst) scheme, while of the non-SCT Inst countries, the UK makes the most payments (close to 8 million per day).
The latest Status Update on SCT Inst Scheme from the European Payments Council states that, as of June 2022, there are 2,360 registered SCT Inst scheme participants (PSPs employing the scheme) representing a share of 61% of all SCT adherents (i.e. 3,872) in all SEPA countries (and 68% for the EU and 71% for the euro area only). Therefore, even though A2A payments as a practical concept is still far away from sweeping the world in terms of monopoly, instant payments and direct bank transfers are invariably at the moment the status quo of A2A.
On a global level, 60 markets operate a live, real-time payments infrastructure, with Canada, Peru, New Zealand, and Indonesia launching in 2022. Southeast Asian countries are at the forefront in terms of adoption of instant payment platforms, India registers the largest volume of instant payment transactions in the world, reaching 39.8 billion in 2021, while in May 2022, Brazil’s instant payment platform Pix has been used by more than 115 million users since its launch in November 2020, according to a recent ReportLinker study.
The full article in The Paypers
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
