Instant bank transfers see significant global and Italian growth

Instant bank transfers are experiencing rapid growth both in Italy and globally. According to data from the Bank of Italy, the use of the SEPA Credit Transfer Instant (SCT Inst) scheme is increasing, driven by improved accessibility and recent regulatory changes. While instant transfers still represent a minority of total SEPA transfers, they are seeing consistent quarterly growth alongside the broader digitalization of banking services among households and businesses.

Globally, McKinsey analysis indicates that instant payments in the world's 15 largest economies reached a value of 22 trillion dollars in 2024. Although this is a small fraction of the approximately 2 quadrillion dollars moved globally, the sector is projected to grow at an annual rate of 15% to 18% over the next five years.

Success in this sector depends on more than just technology; factors such as costs, incentives, bank involvement, and tangible consumer advantages are critical. For example, India’s Unified Payments Interface (UPI) has become the world's largest instant payment system, managing over 19 billion transactions per month due to public support and the absence of transaction fees.