Brazil's Pix handled almost 80 billion transactions in 2025.
Why this market is moving now
- Fast payments rose to 49% of cashless payments in emerging economies in 2024, from 43% a year earlier.
- India's UPI processed approximately 22,000 crore transactions in 2025, its biggest year so far.
- Brazil's Pix grew 25.7% in 2025 to almost 80 billion transactions.
- A 2025 survey of 82 jurisdictions counted 57 fast payment systems in operation, the base for linking systems across borders.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| The world made 266.2 billion real-time payment transactions in 2023, up 42.2% on 2022. | 266.2 billion transactions | 2023 | |
| Real-time payments made up 19.1% of all electronic transactions worldwide in 2023, and the same study expects 27.1% by 2028. | 19.1 % of electronic transactions | 2023 | |
| Global real-time payment transactions are forecast to reach 575.1 billion in 2028. | 575.1 billion transactions (forecast) | 2028 | |
| India was the world's largest real-time payments market in 2023 with 129.3 billion transactions, ahead of Brazil (37.4 billion), Thailand (20.4 billion), China (17.2 billion) and South Korea (9.1 billion). | 129.3 billion transactions | 2023 | |
| India's UPI accounted for nearly 49% of the world's real-time payment transaction volume in 2024. | 49 % of world real-time payment volume | 2024 | |
| India's UPI processed approximately 22,000 crore (220 billion) transactions in calendar year 2025. | 22,000 crore transactions | 2025 | |
| Brazil's Pix instant payment system handled almost 80 billion transactions in 2025, up 25.7% on 2024. | 80 billion transactions | 2025 | |
| Fast payments made up 49% of all cashless payments on average in emerging market and developing economies in 2024, up from 43%, against around 10% in advanced economies. | 49 % of cashless payments (EMDE average) | 2024 | |
| Brazil had the highest use of fast payments per person among the reporting jurisdictions in 2024, at 298 payments, followed by Korea at 189 and Argentina at 149. | 298 fast payments per person | 2024 | |
| Authorities in 82 jurisdictions reported 57 operational fast payment systems in a 2025 global survey. | 57 fast payment systems | 2025 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Companies to watch
National Payments Corporation of India (NPCI)
Runs UPI, which processed approximately 22,000 crore transactions in 2025.
Banco Central do Brasil (Pix)
Central bank that runs Pix, which handled almost 80 billion transactions in 2025.
The Clearing House (RTP network)
Runs the RTP network, an instant payments system for banks and credit unions in the United States. Source:
EBA CLEARING
Runs the RT1 system for euro instant credit transfers (SCT Inst). Source:
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
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- Method note and assumptions
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Frequently asked questions
How big is the global real-time payments market?
The world made 266.2 billion real-time payment transactions in 2023, up 42.2% on 2022. That was 19.1% of all electronic transactions worldwide.
Which country makes the most real-time payments?
India. It made 129.3 billion real-time transactions in 2023, far ahead of Brazil with 37.4 billion. India's UPI had nearly 49% of world real-time payment volume in 2024.
How fast is the real-time payments market growing?
Volumes grew 42.2% in 2023. Global real-time transactions are forecast to reach 575.1 billion in 2028, when they are expected to be 27.1% of all electronic transactions.
How many countries have fast payment systems?
In a 2025 global survey, authorities in 82 jurisdictions reported 57 operational fast payment systems.
Do emerging markets use instant payments more than rich countries?
Yes. Fast payments were 49% of cashless payments on average in emerging and developing economies in 2024, against around 10% in advanced economies. Brazil had the highest use per person, at 298 payments.
How big is Brazil's Pix?
Pix handled almost 80 billion transactions in 2025, up 25.7% on 2024.
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