Real-Time Payments Guide: The Next Business Disruptor

Oct 11, 2022

Real-time payments guide

Introduction

Get Paid Faster. Real-time payments (RTPs) help businesses do just that. As the name suggests, RTPs offer users speed that cannot be matched by any other payment method.

With a business environment that is more competitive than ever, gaining access to funds as soon as possible is vital.

Our real-time payment guide is a must-read for Canadian business owners looking to learn more about real-time payment technology. 

What are Real-Time Payments? Breaking Down the Next Big Thing in Payments

Rapid payments, real-time payments and faster payment processing have made their way into North America, completely revamping the financial transaction process. 

Bringing together speed, data, and communication. RTPs allow for the immediate availability of funds, settlement finality, instant confirmation, and real-time information—all in a payment made in seconds.

Real-time payment solutions put an end to: 

Strict one-way movement from payer to the payee – Push and pull funds instantly

The dark abyss of the payment unknowns – Has the payment been processed? Have funds been received?  Strategic decision-making is almost impossible with a lack of transaction visibility.

Cash flow challenges – Whether a business is paying out or getting paid, real-time payments provide a deeper clarity on where a company stands in real-time.

B2B Payments shift to Real-Time Payments

The Future of Real-Time Payments

As adoption accelerates, the industry is expected to hit US$ 16 Bn by the end of this year.

With more than 40 countries having RTP solutions in place and six more countries set to launch before 2023 (including Canada), Canadian businesses are already getting in on the action.

Canada hit 70.3 billion real-time transactions in 2020, up 41% from 2019.

Real-time payments become the answer as more companies look to optimize efficiencies, scale up in the market, and increase their bottom line. Instant payment solutions have reshaped the payment landscape, becoming critical in adding to a company’s profit stream. The time to gain insight and learn more about this topic is now.

Download your free copy of the Guide to Real-Time Payments 2022 Now

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Real-Time Payments Guide

Real-Time Payments Breaking Down the Next Big Thing in Payments

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