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Merchants worldwide believe real-time payments will eventually eliminate plastic cards

Nearly 80 percent of global merchants believe real-time payments will replace the use of payment cards over time, according to new benchmark data from ACI Worldwide.

The benchmark, comprised of responses from executives across the retail, digital goods, hospitality, telecom and travel sectors, also revealed that 65 percent of executives reported interest in accepting real-time payments, up from 57 percent last year.

Other findings from the study include:

  • Of the merchants that believe real-time payments will replace the use of payment cards over time, 77 percent in the U.S. hold this view, despite the reliance on plastic cards in the market. In the Netherlands, 100 percent of the merchants surveyed hold this view following the country’s success with online banking payment schemes.
  • 78 percent of merchants believe real-time payments can help lower costs, more than a 20 percent increase from 2017 (57).

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.