May 02, 2019: 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.
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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.
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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
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The Global Real-Time Payments Market research report offers accurate insights for the growth prospects of the Real-Time Payments market in the forecast years 2020-2027.
The report is an all-inclusive study of the Real-Time Payments market that offers the readers a better view of the current and emerging market trends through a thorough analysis of the market size, growth trends, supply and demand ratio, market share, sales network and distribution channels, and other key elements.Furthermore, the report is furnished with the current market scenario with regards to the COVID-19 pandemic.
The global public health emergency has disrupted the lives of everyone across the globe.
It has also had a substantial impact on the Real-Time Payments industry as global supply chains have been disrupted, and the financial scenario is tight.
The report assesses the initial and future impact of the pandemic on the market and its key segments to offer an accurate futuristic outlook for remuneration in a post-COVID-19 scenario.Get a sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/2321Scope of the Market Report: The report offers a holistic overview of the Real-Time Payments industry that offers all the essential information.
The report is formulated by extensive primary and secondary research and backed by the verified data from industry experts and professionals.
MarketsandMarkets forecasts the global Real-Time Payments (RTP) market size to grow from USD 6.8 billion in 2018 to USD 25.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.6% during 2018–2023.
The high proliferation of smartphones, the increasing demand for immediacy of payments and quicker payment settlements, and the government initiatives are expected to be the major factors for the growth of the market.
Most of the payment solution providers offer RTP solutions, such as payment gateway, payment processing, and payment security and fraud management, leading to faster transaction process.In May 2018, Temenos announced that it would enhance its leading financial crime mitigation product by including an Artificial Intelligence (AI)-based Suspicious Activity Prevention solution to its functionality.
The RTP vendors offer professional and managed services to plan, design, implement, deploy, and train RTP payment solutions.
The increase in the number of real-time transactions in the emerging economies is expected to increase the demand for RTP services.In the RTP market by enterprise size, the Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period.
The increasing demand for scalable and cost-effective solutions is expected to accelerate the growth of RTP solutions in the SMEs segment.The RTP market by deployment mode has been further divided into 2 segments: the cloud and on-premises.
The Global Real-Time Payments Market Market research report added by Reports and Data offers an industry-wide analysis of the Real-Time Payments Market market and offers a comprehensive industry outlook to impart clear understanding of the market size, market revenue growth, and scope of the market during the forecast period of 2021-2028.
The report also discusses in details various market segments, environment, regulatory framework, and product and technological innovations and developments.
The report also covers market size, volume, demands, current and emerging trends, market share, CAGR, and production and consumption rates and offers impact analysis of key trends on the market growth.The Real-Time Payments market research report is broadly bifurcated in terms of product type, application spectrum, end-user landscape, and competitive backdrop, which would help readers gain more impactful insights into the different aspects of the market.
Under the competitive outlook, the report’s authors have analyzed the financial standing of the leading companies operating across this industry.
Our team has accurately predicted the future market scope of the new entrants and established competitors using several analytical tools, such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.Get a PDF sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/2321Geographical Scenario:The global Real-Time Payments market report comprehensively studies the present growth prospects and challenges for the key regions of the Real-Time Payments market.
The report continues to evaluate the revenue shares of these regions over the forecast timeline.
