From a CFO’s standpoint, the idea of real-time payments seems like a no-brainer, with benefits flowing to all parties in a transaction. But in fact, the adoption of real-time payment services around the world varies widely, with most countries seeing it gain traction largely because of regulatory frameworks – not because of commercial considerations. Indeed, reports show that adoption rates are highest in nations where government regulators have taken an aggressive role.
Rolling out real-time payments is in fact a very complex proposition. Technology has changed the face of payment processes, as consumers and businesses now have a range of electronic options, including credit, debit, or prepaid cards, when it comes to paying for goods or services rendered.