Instant Payments Could Boost Bank Revenues by US$500 Billion Worldwide

Ways of making payments around the world are becoming increasingly instant, invisible (made digitally) and free.

RIO DE JANEIRO, BRAZIL - In this scenario, banks investing in technological innovation can increase payment revenues by US$500 billion by 2025. This is the finding of a report by Accenture, based on a survey of 240 payment executives from banks in 22 countries, including Brazil.

On the other hand, banks that fail to implement innovative business models, according to the document, are likely to lose revenue. The estimated loss is up to 15 percent of the banks' global payments revenue, the equivalent of US$280 billion, due to the growth of digital payments and competition from non-banking institutions . . .

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