Future Pay: Navigating the Instant Payment Wave

May 6, 2024

The Emerging Sportech Opportunity


The digital finance market is witnessing a remarkable surge, with instant payment transactions projected to exceed $58 trillion globally by 2028, a substantial rise from $22 trillion in 2024, according to Juniper Research .

This significant increase reflects the growing adoption of instant payment solutions and a shift toward faster, more secure transactions that redefine consumer and business expectations alike, fostering innovation in the financial industry and promising unparalleled efficiency in real-time payment management. This boom in instant payments demonstrates a move toward an increasingly digitalized and connected economy. 

The forecasted growth of instant payment transactions over the coming years is driven by factors such as the increasing use of mobile payment solutions, strategic enhancements by fintech companies, and integration with cloud-based platforms to offer improved customer experiences and real-time payment insights.

The enterprise sector, especially large enterprises, dominates the market and is expected to continue growing due to the demand for efficient and quick payment processing. Small and medium-sized enterprises (SMEs) are also poised to rapidly adopt instant payment solutions, driven by the transition from traditional paper-based invoicing to digital invoicing and the adoption of cost-saving technologies such as cloud-based services.

The Rise of the Asian Market

Regionally, Asia Pacific holds a commanding lead in the market, expected to maintain its dominance as a significant number of enterprises focus on digitizing their business operations. North America is also set to see steady growth, buoyed by ongoing digitization and economic development.

Grand View Research points out that the market’s competitive landscape is highly fragmented, with various players employing strategies such as joint ventures, partnerships, product innovations, research & development, geographical expansions, and mergers & acquisitions to strengthen their market positions.

New Costumer Experience

Consumer behavior indicates that instant payment platforms are gaining popularity across various age groups, with Generation Z, in particular, driving the uptake of these platforms. As countries like the United States and Brazil introduce new instant payment systems like FedNow and Pix, these platforms are expected to catalyze a shift towards less cash-reliant economies, according to studies from McKinsey & Company and Juniper Research.

A Growing Sector

The growth outlook for the instant payments market remains robust, with projections suggesting a strong compounded annual growth rate (CAGR) through to 2030. For instance, the United States is anticipated to capture significant market revenue by the end of 2033, bolstered by considerable investments transforming payment processes and an uptick in online transactions, as noted by FMInsights.

Juniper Research emphasizes that instant payment transactions involve more than just technology; they also encompass value-added services such as request for payment, which could shape both the B2B and consumer markets. Thus, the landscape for instant payments is poised to become a core component of future financial infrastructure, influencing both traditional banking and the evolving fintech ecosystem.

This global analysis offers a clear perspective on how the financial infrastructure is evolving to meet the needs of a digital economy and how businesses can position themselves to leverage these emerging trends.

Pan-European Expansion of Bizum: A Strategic Move in the Payments Market

Amidst the rising adoption of instant payments, Bizum, the popular Spanish payment platform, is looking to expand beyond Spain’s borders to become a significant pan-European player in the digital payments field.

According to sources consulted by elEconomista.es, Bizum is actively exploring the possibility of forming partnerships or agreements with other payment solutions across various European countries. Furthermore, the company considers operating directly in new markets, initially focusing on those countries that are already significant for Spanish financial entities. This strategy not only reflects the dynamism of the digital payments market but also highlights Bizum’s potential to adapt and thrive within a broader European context.

This expansion initiative coincides with the global projection that instant payment transactions will surpass $58 trillion worldwide by 2028, as per Juniper Research. The significant increase from $22 trillion in 2024 demonstrates a growing preference for fast and secure payment solutions, redefining the expectations of consumers and businesses alike. This surge in instant payments evidences an increasingly digitalized and connected economy, where platforms like Bizum can play a crucial role in facilitating efficient and accessible financial transactions.

Bizum’s foray into the European market could not only significantly increase its user base but also strengthen its competitive position against other giants in the digital payments industry. With its proven effectiveness and popularity in Spain, Bizum is uniquely positioned to influence and shape the future of the digital financial landscape in Europe.

Bizum’s expansion strategy represents a key strategic move within the dynamic digital payments market, aiming for substantial growth and the consolidation of its presence in an increasingly competitive and digitalized European scenario.

Stay tuned!