Dwolla just got faster.
The Des Moines-based financial technology company announced Tuesday that it now offers a service known as Real-Time Payments, allowing clients to send money to customers and vendors within seconds. Experts say the company s latest tool could help it lure new clients who don t want to wait days for banks and regulators to move their money along. Dwolla is positioned to lead into the next wave of payments, company CEO Brady Harris said in a statement.
Based on newer technology than the infrastructure that allows for other types of transactions, Real-Time Payments are an emerging feature in the finance sector. Lenders can send money back and forth within seconds through the Real Time Network operated by The Clearing House, an association owned by 24 of the world s largest banks.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Global $55.9B Real-Time Payments Industry Assessment, 2027 - Real-Time Payment Solutions Will Reach $28.3B - ResearchAndMarkets.com
April 1, 2021 GMT
Global Real-Time Payments Market to Reach $55.9 Billion by 2027
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Amid the COVID-19 crisis, the global market for Real-Time Payments estimated at US$ 11.3 Billion in the year 2020, is projected to reach a revised size of US$ 55.9 Billion by 2027, growing at a CAGR of 25.6% over the period 2020-2027.
Solutions, one of the segments analyzed in the report, is projected to record 22.9% CAGR and reach US$ 28.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 29.1% CAGR for the next 7-year period.