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2021 Key Trends of the Payment Industry: Real-Time Payments in Europe


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Countries Covered: Germany, Hungary, Netherlands, Poland, Russia, Sweden, Switzerland, Turkey, UK

Pages: 31

Publication Date: 14/01/2021

Questions Covered in the report:

  • What is the share of daily Real-Time Payments via the Bankgirot System in Sweden?
  • How are the values of Real-Time Payments expected to change by 2025?
  • What are the main drivers and challenges for Real-Time Payments adoption?
  • How has the monthly value of Faster Payments in the UK changed during the COVID-19 pandemic?
  • What is the share of consumer fund transfers via the Faster Payment System in Russia?

Key Findings:

Amid COVID-19, European authorities are rapidly developing infrastructures for real-time payments

Europe has set an objective to switch to real-time payments

According to figures cited in the new yStats.com report, Western Europe is going to be one of the top markets regarding the adoption of real-time payments by 2025, with the value share being close to one-fifth of the world’s total. Currently, during the COVID-19 health crisis, in the European Union, about six in ten SEPA payment service providers support real-time fund transfers, and the European Central Bank has set an objective to ensure the full deployment of real-time payments across the euro area by the end of 2021.

Moreover, Northern Europe is one of the main drivers of real-time payments in Europe, since in 2021 it will introduce its P27 system for Denmark, Norway, Sweden and Finland, with other Nordic countries joining later. P27 is expected to unify several payment schemes, allowing for real-time and cross-border low-cost payments among the Nordic countries.

During the health crisis, most European countries saw a rapid surge in real-time payments, however, some still lag

Not all countries underwent an increase in demand for real-time fund transfers via the local RTGS systems amid the pandemic. In Switzerland, for example, their value via the Swiss Interbank Clearing (SIC) system has been steadily going down since March 2020 and has even reached negative year-on-year rates at the end of the third and beginning of the fourth quarter of 2020, as detailed in the yStats.com publication.

Nevertheless, most of the countries in Europe, including the United Kingdom and the Netherlands, have experienced a significant surge in the number and value of real-time fund transfers during the last quarter of 2020.

  • Main Drivers and Challenges for Real-Time Payments Adoption, December 2020
  • Values of real-time Payments, in USD trillion, and Share of West Europe in the World’s Total, in %, 2020 & 2025f
  • Profile of Real-Time Payments, and Objectives of the European Commission for 2021, December 2020
  • Share of SCT Inst in All SEPA Credit Transfer Transactions, October 2019 – September 2020
  • Average Daily Transaction Value via RT1 real-time Payments, in EUR million, and Month-on-Month Change, in %, January 2020 – November 2020
  • TIPS Profile and 2021 Objectives, December 2020
  • Share of SEPA Payment Service Providers that Support SEPA real-time Payments, in %, October 2020
  • P27 Payment Service Profile, December 2020
  • P27 Current News, December 2020
  • Share of Daily Real-Time Payments via the Bankgirot System, in % of Total, 2020
  • Number of Processed Transactions in the Bankgirot Real-Time Payment System, in millions, and Year-on-Year Growth, in %, January 2020 – November 2020
  • Availability of Real-Time Payments Option, by Selected Banks, September 2020
  • Value of Real-Time Payments via the Swiss Interbank Clearing (SIC) System, In CHF billion, and Year-on-Year Change, in %, January 2020 – October 2020
  • Shares of Real-Time Payments in Total Single Credit Transfers, in %, November 2020
  • Volume of Real-Time Payments, in thousands, February 2019 & October 2020
  • Value of Faster Payments via Pay.uk, in GBP billion, and Year-on-Year Change, in %, December 2019 – December 2020
  • Shares of Faster Payments in Total Payments, in %, November 2019 & November 2020
  • Volume and Value of Payments via the Hungarian Real-Time Credit Transfer Scheme (AFR), in millions, and in HUF trillion, March 2020 & September 2020
  • Volume of Transfers via Express Elixir Real-Time Payment System, in PLN billion, and Volume, in millions, November 2019 & November 2020
  • Real-Time and Continuous Transfer of Funds (FAST), December 2020
  • Share of Consumer Fund Transfers via the Faster Payment System, in % of Total, December 2020
  • Awareness of the Fast Payment Service offered by the Central Bank, in % of Respondents, September 2020
  • Average Daily Value of Payments via the Faster Payment System, in RUB million, January 2020 & September 2020
  • Bankgirocentralen BGC AB
  • DKB Kreditbank AG
  • Express Elixir
  • ING Bank NV
  • N26 Bank GmbH
  • P27 Ltd
  • Target Instant Payment Settlement (TIPS)

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