San Francisco, 22 April , Real-Time Payments Market Size, Share & Trends Analysis Report By
End-use Industry, By Nature of Payment (P2B, B2B, P2P), By Enterprise Size
(Large, SME), By Component, By Deployment, And Segment Forecasts, 2019 - 2025
The global real-time payments market size is estimated to reach at USD 39.02
billion by 2025 registering a CAGR of 29.3%, according to a new study by Grand
View Research, Inc. Real-time payments are digital/electronic payments that
allow the immediate transfer of funds in real time through a secured payment
gateway. Growing e-commerce sector and adoption of smartphones coupled with the
rising need for fast and convenient payment solutions in large and Small &
Medium Enterprises (SMEs), are anticipated to fuel the RTP market expansion.
The real time payments
infrastructure can significantly enhance the payments’ stakeholders experience
of disbursements and refunds – a frequent issue for merchants and consumers
alike as card refunds generally take at least a few days to process and clear.
Real-time payments solutions are being widely adopted across various
industries, such as retail and e-commerce, BFSI, and IT & telecom, owing to
their benefits in terms of speed, security, and transparency. Rising demand for
advanced analytics for payment-related data from merchants and corporate users
is also driving the market.
Moreover, availability of
advanced online payment systems, such as Google Pay, Apple Pay, and Samsung
Pay, and rising adoption of such solutions by large e-commerce retailers are
expected to lead the market growth over the forecast period. Additionally, favorable
government initiatives about digital payments across emerging economies, such
as India, and China, are estimated to create significant opportunities for
market entrants. The Asia Pacific market is anticipated to witness a
significant expansion over the forecast period due to increasing e-commerce
sales and adoption of smartphones.
Key companies in the market
focus on M&A to enhance their product portfolios, expand geographical
presence, and consumer base to deliver RTP solutions across various industries.
For instance, in June 2016, MasterCard Inc. acquired VocaLink Holdings Ltd.
(92.4% stakes) for a deal worth USD 920 million, which allowed MasterCard to
strengthen its role in the U.K. payments ecosystem. However, growing
cybersecurity concerns and lack of network interoperability among multiple
payment-related schemes, such as Automated Clearing House (ACH) and Society for
Worldwide Interbank Financial Telecommunications (SWIFT), could hamper the
market growth.
Access Full Research
Report On Real-Time Payments Market Analysis:
https://www.grandviewresearch.com/industry-analysis/real-time-payments-market
https://www.grandviewresearch.com/industry-analysis/real-time-payments-market
Further key findings from the study suggest:
·
The Asia Pacific regional
market accounted for the largest share in the past and is anticipated to
witness the highest CAGR over the forecast period
·
This growth can be attributed
to the increasing number of new instant payment providers and government
initiatives to promote digital payments
·
Retail and consumer goods
industry held the largest market share in the past and is expected to register
the maximum CAGR during the forecast years
·
This growth is mainly due to
high demand for instant payment solutions from of large- and small-sized
e-retailers and merchants
·
Prominent companies in the
market are Finastra; MasterCard, Inc.; Fidelity National Information Services,
Inc. (FIS Inc.); Fiserv, Inc.; ACI Worldwide, Inc.; and Visa, Inc.
·
These companies focus more on
M&A to enhance product and services portfolios and expand regional presence
Grand View Research has
segmented the global real-time payments market on the basis of nature of
payment, component, deployment, enterprise size, end-use industry, and region:
RTP Nature of Payment
Outlook (Revenue, USD Million, 2015 - 2025)
·
P2B
·
B2B
·
P2P
·
Others
RTP Component Outlook
(Revenue, USD Million, 2015 - 2025)
·
Solutions
o
Payment Gateway
o
Payment Processing
o
Security & Fraud Management
·
Services
o
Advisory Services
o
Integration &
Implementation Services
o
Managed Services
RTP Deployment Outlook
(Revenue, USD Million, 2015 - 2025)
·
On-Premises
·
Cloud-Based
RTP Enterprise Size
Outlook (Revenue, USD Million, 2015 - 2025)
·
Large Enterprises
·
Small & Medium Enterprises
(SMEs)
RTP End-use Industry
Outlook (Revenue, USD Million, 2015 - 2025)
·
Retail & E-Commerce
·
BFSI
·
IT & Telecom
·
Travel & Tourism
·
Healthcare
·
Government
·
Energy & Utilities
·
Others
RTP Regional Outlook
(Revenue, USD Million, 2015 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Sweden
o
Denmark
o
Switzerland
·
Asia Pacific
o
China
o
India
o
Japan
o
Singapore
·
South America
o
Brazil
o
Argentina
·
MEA (Middle East & Africa)
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-real-time-payments-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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