Instant payments are gaining momentum in the U.S., with nearly half of businesses already initiating them, outpacing financial institution adoption. Over 90% of businesses are investing in payments technology and consider instant payments important, prompting many to switch providers to gain access. Financial institutions must modernize quickly to avoid losing market share to fintechs. Shared hurdles include legacy infrastructure and resource constraints. Payments-as-a-Service is key to modernization, offering scalability, security, and lower costs to support always-on instant payment services.

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