Annual number of real-time payments in the UK in 2022, with a 2027 forecast
Real-time payments in the United Kingdom were predicted keep growing up to 2027, as instant payments made up nearly ten percent of overall payments in 2021. Approximately 12.5 percent of the overall payments mix in the country - including both cash as well as cashless - is anticipated to be an instant payment by 2027. The source adds this equals a CAGR of 9.1 percent between the five years under consideration. The United Kingdom was a relatively early adopter of instant payments, as its Faster Payments scheme went live in 2008.