How to transition from CRO to CEO
08 May, 2025
Real-time payments adoption is gathering pace across North America. With the rise of digital technology and the increased demand for instant gratification, real-time payments have become a must-have for businesses and consumers alike. As a result, it’s time for all businesses to get to grips with and understand real-time payments.
In this blog, we will be discussing the benefits of real-time payments in more detail, and how your business can use RTPs to their full potential by hiring specialist Product Managers.
What are real-time payments?
Real-time payments (RTPs) are payments that happen in real-time. The money is transferred electronically and clears within seconds, meaning that the funds can be accessed almost immediately. According to ACI’s 2022 'Prime Time for Real-Time Global Payments’ report, real-time payments will account for 27.8% of all electronic payments globally by 2027. Now is the time to invest in real-time payments in order to avoid being left behind by your competitors.
Here are 3 benefits of real-time payments in the FinTech market:
1. Faster and more convenient transactions
One of the primary benefits of real-time payments is the speed at which transactions can be completed. Traditional payment methods such as credit cards, checks, and wire transfers can take several days to clear. However, with real-time payments, transactions are completed in real-time, which means that funds are transferred almost instantly.
This speed and convenience can be particularly beneficial for business transactions. For example, if your organization needs to make an urgent payment to a supplier or pay your employees, real-time payments can ensure that the funds are transferred quickly and efficiently. This can help to improve cash flow and make sure that the business can meet its financial obligations without complications and on time.
2. Increased security
