Instant payments to reshape global transactions by 2028: Capgemini Report
Updated 9/11/2024 1:27:00 PMArab Finance: Instant payments will make up 22% of all non-cash transaction volumes by 2028, as per the Capgemini Research Institute’s World Payments Report 2025.
Celebrating its 20th anniversary edition, the report highlights the rapid shift toward account-to-account (A2A) and instant payments in the global financial landscape
In 2023, non-cash transaction volumes reached 1,411 billion, with projections set to climb to 1,650 billion in 2024 and 2,838 billion by 2028, the report showed.
Customers are increasingly opting for smoother, faster payment options, pushing the demand for non-cash transactions to unprecedented levels.
A2A instant payments offer a quicker, more affordable alternative to traditional card networks. The report suggests that this growing trend could reduce the future growth of card transactions by 15-25%.
Hossam Seifeldin, CEO of Capgemini Egypt, emphasized Egypt's progress toward a cashless economy, stating, “In 2023, the country recorded 39 million transactions, marking a promising start.”
“While financial institutions in Egypt share similar challenges with their global peers, the Central Bank of Egypt’s Instant Payment Network demonstrates a strong drive to overcome obstacles,” he added.
Despite these advancements, the report notes that only 25% of banks globally can receive instant payments, while 53% are fully equipped to send and receive them.
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