We propose a novel approach for the time efficiency study of payment process at Point-Of-Sale (POS). A wide range of payment methods from cash and standard cards to contactless cards, RFID stickers and mobile payments (NFC and remote) was analysed. Transactions were timed by means of digital chronography of video material recorded in the biggest chain of convenience stores in Poland. Our results confirm that cash is a significantly faster payment method than traditional payment card with a magnetic stripe or EMV chip. However, the innovative payment methods, such as contactless cards and NFC mobile payments, are competitive to cash in terms of time efficiency. Contactless cards used in offline mode and without printing paper slips are the first popular electronic payment method in history faster than cash. Our results could be applied to optimise the payment process at POS as well as to develop innovative and efficient payment solutions.

Purpose: The article presents the uptake and development of instant payments across countries representing various geographies with diverse economic and social backgrounds. It identifies the critical success factors for the rapid adoption of instant payments. Design/methodology/approach: This study features five country cases where instant payments swiftly alter payment landscapes. These are Brazil’s PIX, India’s UPI, USA’s FedNow, Poland’s Express Elixir and BLIK, and the EU-wide SCT Inst. It discusses and compares all the country cases in detail. Findings: The analysis identified success factors driving the widespread adoption of instant payments. It categorises these factors into five groups, each illustrated by country examples with their respective instant payment systems: regulatory support, an open ecosystem, and inclusive collaboration, network effects on the supply side of the market, network effects on the demand side of the market, and constant development through use and security improvements. Practical implications: This article offers valuable insights for policymakers and developers of instant payment schemes and systems on enhancing network effects and accelerating the adoption of instant payments. Social implications: The introduction of instant payments has profound implications for consumers and businesses. Consumers worldwide increasingly demand real-time payments that are available around the clock. Businesses seek streamlined cash management services that offer faster money flows, helping them reduce risk and exercise more precise control over working capital. Originality/value: The findings contribute to a better understanding of instant payment adoption in various regions and countries, considering their unique characteristics.

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