I’ve used a video from Visa Europe to illustrate what real-time payments processing means in practice for a while now, and finally tracked it down on Brightcove:
It’s a good video, tracking the journey of a payment from a Swedish bank customer using a mobile contactless phone in China.
The payment travels through 32,000 of networking in 1.4 seconds, including all of the security checks and gateways.
That was about a year ago.
Today, it’s under a second.,
Visao processes about 35 million such payments daily with a 99.999% success rate.
I’m sure MasterCard do the same, and it just goes to show what today’s global technologies and interoperability enables.