Asia Pacific Continues Growth Trajectory in Real-Time Payments Market, Leads the Way in Cross-Border Payment Linkages

Real-time payments (RTP) transaction volumes in the Asia Pacific (APAC) region are expected to grow from 49.2 billion in 2022 to 96.2 billion by 2027, representing a CAGR of 14.1%, according to the 2023 Prime Time for Real-Time report published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company. APAC is one of the most innovative RTP markets globally, with advanced, user-friendly services such as QR code payments and mobile-native experiences propelling RTP adoption. Support from governments or central banks and their investment in modern infrastructure is key to RTP adoption in the region.

APAC leads the way in cross-border payments initiatives, including live RTP integrations among the Association of Southeast Asian Nations, and ACI has supported customers across the region to deliver RTP services. The latest milestone is the launch of cross-border QR code payments between Indonesia and Malaysia in May 2023. The increasing cross-border RTP linkages open doors to new business opportunities and enhance trade by facilitating faster, cheaper, transparent and inclusive cross-border payments. With the rebound in international travel, the payment linkages are expected to provide travelers greater convenience, benefiting both economies' tourism and retail sectors.

"Real-time payments continue to be the cornerstone of modern digital economies in APAC, moving money at unprecedented speed and security, spurring trade and enhancing customer experience," said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. "ACI has unrivaled experience supporting governments and banks across APAC as they roll out real-time payments. We are committed to helping our customers reap the full benefits of real-time payments."

Country Spotlights:

Indonesia: A new entrant set for rapid RTP growth

Indonesia is the most recent major country in the region to adopt RTP and is set for rapid RTP growth at a CAGR of 81.9% between 2022 and 2027. This makes Indonesia's BI-FAST one of the world's fastest-growing and most successful RTP schemes. ACI provides the ISO 20022-based, real-time central infrastructure for BI-FAST, one of the world's largest and most modernized RTP initiatives. When fully implemented, this will incorporate 135 banks, multi-tenant aggregators, merchants and payment service providers, leveraging ACI Low Value Real-Time Payments Solution.