Pay by bank enables direct account-to-account transactions, redefining payment processes for businesses and consumers through quicker settlements and reduced fees.
The slow adoption of pay by bank in the U.S. compared to Europe is expected to change with the FedNow service driving growth in A2A payments.
Businesses leveraging pay by bank can achieve lower transaction costs and higher efficiency, establishing a significant advantage in the increasingly competitive digital payment landscape.
With a projected growth rate of 14% through 2026, account-to-account payments are poised to become pivotal in the ongoing digital transformation of payment systems.
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