Letter from Abroad: Lessons from Real-time Payment Adoption around the World

Real-time payment systems are now live in nearly every advanced economy, but adoption varies as does the effects on conventional payment systems and products. The Clearing Houses RTP has been live since 2017 and FedNow will go live soon. What effects can we expect on the payment industry in the United States? Using empirical data collected in 2022 the speakers in this session discuss the possible conditions under which real-time payment adoption might accelerate or stall in the United States and the conditions under which ACH volumes might migrate to real-time - and how might we encourage or prevent the migration from occuring.