Real-time payments are transforming economies and lives: Initial evidences from select countries

Andrew Buckley and Mahadevan Balakrishnan
Additional contact information
Andrew Buckley: Executive Vice President for New Payment Platform Products, Mastercard, USA
Mahadevan Balakrishnan: Consultant on Payment Topics, USA

Journal of Digital Banking, 2021, vol. 6, issue 2, 149-160

Abstract: Retail real–time payments — also known as fast payments or real-time payments — are becoming mainstream, with over 56 countries already having them and many others at various stages of implementation. Real-time payments are transforming economies by providing additional payment options for a variety of use cases, and its usage is gaining momentum. This paper analyses the reason for such wide acceptance of real-time payments using the Technology Acceptance Model (TAM), the economic impact of real-time payments in select countries, its impact on financial inclusion and concludes by providing some insights on how real-time payments are changing lives on the basis of ethnographic studies carried out in select countries.

Keywords: retail real-time payments; fast payments or real-time payments; implementation; additional payment options; technology acceptance model (TAM); ethnographic studies (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://hstalks.com/article/6689/download/ (application/pdf)
https://hstalks.com/article/6689/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2021:v:6:i:2:p:149-160

Access Statistics for this article

More articles in Journal of Digital Banking from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().