Modern Instant Payment Settlements are Increasingly Being Powered by NoSQL

Instant payment solutions are increasingly being powered by NoSQL databases due to their ability to handle high transaction volumes and provide real-time data storage and processing capabilities. The global digital payments market is expected to grow at a CAGR of 23.8% to reach $12.4 trillion in transaction value by 2025, up from $3.7 trillion in 2019. NoSQL databases offer flexible platforms for easy scalability and cross-platform applications, making them ideal for supporting instant payment systems like TIPS and UPI. Aerospike, a successful NoSQL solution provider, has been implemented in instant payment systems to provide real-time fraud protection, risk mitigation, identity management, clearing and settlement calculations, and real-time decisioning.