PAYMENT

SYSTEM
Analysis of US and China

Group 5
Amit and Swapnil
DIGITAL Organizations offered digital

PAYMENTS
Digital technology to extend capabilities,
as a but still largely the same,
channel traditional payments models

EVOLUTION Digital
Digital functionality becomes
more synchronized and less siloed
as a with more advanced changes to
Feautre payments models

Digital technology is no longer

Digital
part of payments but rather
as a
has become fundamental to
Foundat
payments models
-ion
REAL-TIME Global market size, valued at $13.5 billion
in 2021, is expected to

PAYMENTS increase at a compound annual growth

rate (CAGR) of 34.9% from
2022 to 2030
The shift to foundational digital
payments usage
In the United States, RTP is seeing
significant year-over-year growth of 69%.

The rise in RTP can be attributed

to strong demand for quicker payment
settlements by merchants, global
proliferation of smartphones.
TRENDS IN
PAYMENTS
Cross-border real-time payments will a be
significant between US and countries in
Cross-border
other regions. SWIFT Go will connect to

TO WATCH
real-time
local real-time payments systems around
payments the world,

FOR IN US RTP
Future projections for real-time
payments are expecting strong
growth as the volume of real-
Projections
time payments are projected to grow
The adoption of real-time payments is at a CAGR of 37% from 2021-2026.

still limited in the U.S., accounting for

only 0.9% share of total payments
volume in 2021, which is not significant
compared to paper-based payments and
There are two real-time payment
solutions in the U.S.: Zelle and the RTP
RTP and
network from The Clearing House (also
Zelle
connected with ACI Worldwide), but

electronic payments (excluding real-time their adoption at a national level is still

limited due to the dominance of cards
payments) at 21.4% and 77.7%,
in the market.
respectively.
GROWING USAGE OF REAL-TIME PAYMENTS IN US
TREND OF NON CASH PAYMENT IN US
SOME KEY STATS ABOUT US
CHINA PAYMENT
SYSTEM
China’s national payment system has
progressed remarkably and has
played an important role in driving
the country’s economic and social
development
 Wechat and Alipay

THE GROWTH QR-code payments with established

mobile wallets as the most popular
payment method.

In 2010, China launched its real-time

payments system called the Internet
Banking Payment System (IBPS) to
strengthen its banking infrastructures
and boost non-cash payments. In 2021,
it was ranked as the second country in
the world in terms of the transaction
volume of real-time payments.
NUMBER OF MOBILE PAYMENT USERS IN CHINA
FROM 2013 TO 2021 (IN MILLIONS)
Share of selected payment methods as percentage of total transaction volume worldwide in 2021, with a
forecast for 2025
Thank
you!!