Instant Payments To Significantly Boost Finances of Young Adults in Europe - Seite 2

Craig Ramsey will be discussing these findings at an event titled, “Can instant payments get everyone on-board?” on March 19, the same week the Regulation on instant payments final text is expected to be published. The event will explore the implications for consumers and businesses, as well as the broader impact on financial inclusion.

Notes to Editors

Methodology: Cebr research was conducted using GlobalData volume data on instant and electronic payments along with financial inclusion indicators published by the World Bank for 48 countries from 2011-2021. Analysis was conducted using a fixed effects model with time dummies and a control for the volume of electronic payments. The statistically significant relationship that a 1% increase in the volume of instant payments is, on average, associated with a 3.1 percentage point increase in the share of 15- to 24-year-olds that have saved any money, all else remaining equal, was identified.

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ⁱ Eurostat, Severe material and social deprivation rate of youth: 6%.
ⁱⁱ Instant or real-time payments are credit transfers that make funds available in a payee’s account within 10 seconds of a payment order being made. While the term “instant payments” is used in Europe, the term “real-time payments” is more widely used in other parts of the world.
ⁱⁱⁱ Data provided by GlobalData, the data analytics and consulting company.
^iv Eurostat, Severe material and social deprivation rate of youth: 6%.
^v Eurostat, Unemployment Statistics, January 2024
^vi Eurofound, Home ownership declines across EU as young adults find themselves locked out of market
^vii Erasmus University Rotterdam, More and more Dutch people earn less than their parents

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