Immediate Payments Impact on Cash and Checks

With a strong value proposition, immediate payments have potential as an alternative to checks and cash for retail and corporate customers, and could drive further growth of non-cash transactions. The U.S. Fed, SWIFT, and the Australian Payments Clearing Association also believe immediate payments have the potential to replace checks and cash to a certain extent. Immediate payments could also potentially replace debit cards in some scenarios as they could lower banking fees at POS terminals.

Comparison among Cash, Checks, and Immediate Payments across Key Payment Attributes

Comparison among Cash, Checks, and Immediate Payments across Key Payment Attributes

Note: We have qualitatively analyzed the favorability of cash, checks, and immediate payments against all the payment attributes defined by the Euro Retail Payments Board and then depicted the outcome in above chart

Source: Capgemini Financial Services Analysis, 2016; http://www.europeanpaymentscouncil.eu