Instant Payments To Overtake Cards, Claims PSD2 Research

New research has suggested that the revised Payment Services Directive (PSD2) will prove a catalyst for instant transfers overtaking cards as the dominant means of payment in the EU.

A report authored by data research firm Ovum has predicted that the directive — coupled with infrastructure upgrades and e-commerce growth — will result in the volume of instant payments overtaking that of cards by around 2024.

Ten years from now, the report predicted that the total value of non-card e-commerce payments will stand at around €338bn, compared with €260bn for cards.

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