There’s no shortage of action in the four countries with live real-time payment systems in the Americas: Brazil, Chile, Mexico and the United States.
Real-time transaction values in Mexico and Brazil surged this year and more than half of the demand deposit accounts in the U.S. are now connected to its real-time network, RTP.
The Central Bank of Brazil announced that its new instant payment system, PIX, will launch in November 2020. The United States launched its first real-time payments network in 2017, but talk of new real-time initiatives from FedNow and the Faster Payments Council are now underway. Canada will launch its new real-time payment system in 2022.
Read our exclusive interview with The Clearing House on what’s next for real-time payments in the U.S. in this year’s report.
Brazil saw the largest surge in the annual value sent over new real-time payment rails in the Americas, with an eleven percent increase.
More than 130 financial institutions are currently implementing RTP—a five-fold increase since September 2019.
Brazil launched its funds transfer system SITRAF in 2002; Mexico followed in 2004 with SPEI.