U.S. Instant Payments Adoption to Reach 70-80% by 2028, Study Finds
The U.S. Faster Payments Council (FPC) has unveiled its 2025 U.S. Instant Payments Adoption Quantitative Study, highlighting key areas for improvement and future trends in instant payments.
The study, published on the FPC's Faster Payments Knowledge Center, surveyed U.S.-based third-party enablers serving over 90% of U.S. financial institutions. It identified fraud mitigation, user interfaces, and exceptions as top priorities for advancing instant payments standards.
By 2028, respondents projected that 70-80% of financial institutions would receive instant payments and 30-40% would send instant credits. The report also noted the growing use of instant payments for loan payoffs. Over the next 12-24 months, respondents prioritized deploying real-time fraud mitigation tools and enhancing consumer and business user interfaces.
QR codes, APIs, and pay-by-bank methods were highlighted as crucial tools for broader instant payments adoption. Key drivers of instant payments adoption in 2025 were identified as earned wage access, wallet funding, marketplace/gaming, and P2P transactions.
The FPC, committed to ensuring instant payments are accessible, secure, and beneficial for all, has provided valuable insights into the future of instant payments in the U.S. The 2025 study underscores the importance of addressing fraud, improving user interfaces, and expanding use cases to drive adoption and innovation in the payments industry.
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