Capgemini projects instant payments accounting for 22% of noncash transactions by 2028, the Standard Charters research institute reports.
The Asia Pacific region is leading this trend with a 20% year-on-year increase in noncash transactions, outpacing growth in Europe (16%) and North America (6%).
However, Asian banks are racing to meet G20 cross-border payment goals on speed, cost, and transparency. They are burdened by dated infrastructure, high fees, and fragmented rules hinder near-real-time payment transfers.
“In most developed countries, domestic payment schemes are now instant,” Mishal Ruparel, chief commercial officer at Banking Circle, says.
15 markets globally are struggling to keep up with the G20 2027 target for 75% of cross-border payments to be credited to the beneficiary within an hour, according to Capgemini Research Institute’s World Report Series 2025.
Only 5% of banks have achieved “high business and technology” scores to solidify their position as instant payment adoption leaders.
Source: The Asian Business Review
