Published by Jessica Weisman-Pitts
Posted on October 27, 2022
3 min readLast updated: February 3, 2026
NEW YORK, October 6, 2022 — BNY Mellon, in collaboration with Aite-Novarica Group, today released a study examining commercial payment trends, finding that businesses are embracing a range of emerging digital tools such as real-time payments (RTP) and digital wallets.
The report also found significant regional differences in channel usage. The adoption of instant payments is expected to increase, both in the U.S. via the RTP® network and the soon-to-be launched FedNow service, and in Europe and the U.K. with the SEPA Credit Transfer Instant and Faster Payments services.
Cryptocurrencies – tipped as a game changer for payments – shows growth mainly forecasted among existing users. Meanwhile, the usage of cash and checks is declining on a net basis, although they are embedded in many businesses’ workflows, notably in the U.S.
Key findings of the survey include:
“These study findings show that companies currently embracing emerging payment technologies are already reaping the benefits, while those slower to adopt them need more support to make the switch,” says Carl Slabicki, Co-Head of Global Payments within Treasury Services at BNY Mellon. “That is why we are positioning ourselves as gateway for businesses to access all possible payment solutions as quickly and easily as possible.”
“The report paints a picture of a payments landscape that is complex and incredibly varied from region to region,” said Gilles Ubaghs, author of the study at Aite-Novarica Group. “No single payment method is emerging as the preferred solution and that fragmentation is likely to continue for some time before we see any consolidation in payment types.”
The findings of the report are based on feedback from 790 employees of mid-size and large organizations in seven North American and European countries.
Download the report here.
Instant payments are transactions that are processed immediately, allowing funds to be transferred and available in real-time. This method enhances the speed and efficiency of payment processing.
A payment gateway is a technology that facilitates online transactions by transferring payment information from the customer to the merchant and then to the payment processor.
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