UAE Real-Time Payments Scheme expected to drive significant economic benefits — ACI Worldwide Report

UAE Real-Time Payments Scheme expected to drive significant economic benefits — ACI Worldwide Report

Prime Time for Real-Time tracks real-time payments volumes and growth across 53 markets. For the first time, the report includes an economic impact study showing a clear correlation between real-time payments and economic growth. The research shows that governments that advance the real-time modernization of their national payments infrastructure create a win-win situation for all stakeholders in the payments ecosystem: consumers and businesses benefit from fast, frictionless and hyper-connected payments services, financial institutions future-proof their business in a highly competitive environment by speeding up cloud-first and data-centric modernization, and national governments boost economic growth, reduce the size of their shadow economy and create a fairer financial system for all.

UAE Real-Time Transactions on the Rise

According to the report, 28 million real-time transactions were made in the UAE in 2021. This figure is projected to grow to an impressive 134 million by 2026, representing a five-year CAGR of 36.5%. Real-time payments accounted for 3.2% of overall non-paper-based transactions last year and are expected to account for 10.4% of all electronic payments in the Emirates by 2026.

“The UAE is on the cusp of a real-time payments revolution; the country has an incredible opportunity and the momentum to drive economic growth and financial inclusion