In 2025 Real Time Payments Are All That Matters
Consumers are driving RTPs, and banks and card companies can't stop the train!
When reviewing last year’s Capgemini 2024 payment report, I boldly proclaimed that “the only trend that really matters is real-time payments.”
It turns out I was right. For 2025, Capgemini’s new report covers one and only one topic: “gearing up” for the transition to real-time payments (RTPs). Forgive my bravado for saying they were a year late in recognizing this!
RTPs have a profoundly positive impact on open banking initiatives and are disrupting the world’s reliance on cards. Both of these trends benefit consumers.
In a shocking development, globally, cards are now losing out to digital wallets for total value when used in both e-commerce and at the PoS terminal.
This is huge and should stun card companies. While card executives may take solace in the fact that many digital wallets still use card payment rails, they must know that they will need to transform cards to remain relevant.
RTPs, opportunity or disruptor?
Capgemini sees RTPs as an opportunity, a rational position to take on technology with such profound consumer benefits. RTPs also present an opportunity for banks if they are bold and innovative.
Sadly, many banks see RTPs as disruptors and would like to slow the inevitable transition that they must know is unstoppable.
Card companies are more innovative than banks, and we can expect to see them make progress on RTPs in 2025.
They know that the days of slow, high-fee cards are over, with a global 15% CAGR in digital wallets. There is no going back.
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👉TAKEAWAYS: RTP IS GOING GLOBAL
🔹 Consumers are driving the transition
As consumers increasingly favor digital payments over paper and coins, non-cash transactions are surging with 15% compound annual growth (2023 - 2028)
🔹 🔥APAC is in the lead🔥
The APAC region is leading the charge with a staggering 17.7% projected annual growth, solidifying its position as the fast-growing geography for non-cash transactions. In 2024, APAC exhibited an incredible year-on-year (YoY) growth of 20.4%!
🔹 EU and US are also changing
Even established regions like Europe and North America are experiencing significant growth. Europe's non-cash transactions had a 15.5% YoY increase in 2024 and a projected 12% compound annual growth (CAGR) from 2023 to 2028. North America had a 6.4% YoY increase in 2024, with a projected CAGR of 7.3% from 2023 to 2028.
🔹 LatAm, Mid-East and Africa transition
Historically-cash-reliant Latin America, the Middle East, and Africa are shifting to non-cash. Latin America’s non-cash transactions had a 23.2% YoY growth spike in 2024, with a projected 20.7% CAGR (2023 to 2028). The Middle East and Africa (MEA) had a more than 15.2% YoY increase, with similar compound growth expected by 2028.
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