Instant Payments and the Proliferation of QR-Driven Transactions

At the Money20/20 Asia event in Bangkok, the primary trend reshaping the financial landscape was identified as the massive acceleration of instant payments. Andrew Murray, Head of International Banking & Payments at FIS, discussed how the ecosystem is rapidly transitioning toward mobile-centric solutions, with a notable move toward QR code technology. This capability allows consumers to initiate an instant payment seamlessly from a mobile device by scanning a QR code, an interaction model that has experienced a major increase over the last 12 months across the entire APAC region. FIS is actively helping its clients respond to this shift by providing the underlying payment rails and technological infrastructure necessary to support high-velocity, mobile-first transaction networks.

For banks and fintechs adopting these modern payment infrastructure solutions over the next 12 months, the expected outcomes focus on operational modernization, seamless user journeys, and risk reduction. Adopting institutions can expect to achieve significantly greater straight-through processing (STP) rates, effectively removing friction from the end-to-end payment lifecycle. This operational efficiency directly improves the overall customer experience by ensuring that transactions are completed without delay. Crucially, as transaction volumes and speeds scale up, the solution delivers heightened security, resulting in a direct reduction in the number of fraudulent incidents seen across the organization’s payment network.

Key Highlights from Andrew Murray:

• The Instant Payment Mandate: Murray highlights the massive expansion of instant payments as a defining shift across the APAC financial sector this year.

• The Rise of QR Infrastructure: The increasing reliance on mobile devices and QR codes to drive friction-free, immediate consumer transactions.

• Frictionless Straight-Through Processing: Adopting modern solutions allows institutions to maximize their straight-through processing rates, removing operational bottlenecks.

• Simultaneous Security and Speed: A look at how the end-to-end optimization of payments leads to both greater operational efficiency and a measurable reduction in fraud.