Global Real Time Payment Market was valued US$5.86 Bn in 2019 and is estimated to reach US$XX Bn by 2026 at a CAGR of XX %.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Technology has created an immediate business environment. In context, the payment industry has decreased and instant payment plans are now being implemented all over the world. For customers' demand to transfer funds from one account to another, definitely, convenient and at a lower price, the immediate payment is an encouragement to the banking industry and the new methods of business with great benefits to the community.
With the rise of the Internet, real time payment systems have been widely used, which are quick, global and responsive. Real time core processing of transactions requires substantial upgrades from a batch-processing model. At the same time, restrain is the banks need to make sure that pressure to provide real-time banking services does not mean compromising on security and confidentiality.
Real time payment market is segmented by Type, by Component, by Enterprise & by Region. Based on type, market is divided into 24*7*365, Bank operation hours. Component is classify into Solution & Service. Enterprise size is spilt into SMEs (Small & Medium enterprise size) & large enterprise size. Region wise the market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
On the basis of Type, 24*7*365 real time payment system is widely used. 24*7*365 is also called instant payments or real time payments or immediate payments are defined by the Euro Retail Payments Board (ERPB) as electronic retail payment solutions that are available 24*7*365. Result in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee’s account with confirmation to the payer (within seconds of payment initiation). Additionally to meeting the above requirements and expectations, immediate liabilities have generated interest from regulatory, competing authorities and payment service providers. Regulators believe that immediate payments can access banking services, support economic growth, provide options to the Visa / MasterCard Network and reduce cash and check usage
Based on components, services segment is expected to grow at a higher CAGR of XX % during the forecast period. The utilization of real time payments solutions is increasing; this has resulted in the growing demand for real time payments services. Services segment is divided into professional services and managed services. Managed services segment is widely used. Whereas the professional services segment is expected to be a XX % of contributor to the market size. Growing demand for real time payments solutions has resulted in the increasing demand for professional and managed services.
In terms of region, Asia pacific region is dominating the real time payment market. Growth rate can be attributed to various factors, including the adoption of advanced technologies, economic developments, increasing rate of digitalization, and high investments by real time payments solution and service providers. The driving forces for the growth of the market in this region include the huge population in Asia pacific region that contributes to the volume of transactions, and the domestic and international enterprises that are investing in this region.
The objective of the report is to present comprehensive analysis of Global Real Time Payment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Real Time Payment Market dynamics, structure by analyzing the market segments, and project the Global Real Time Payment Market size. Clear representation of competitive analysis of key players by Global Real Time Payment Market Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Real Time Payment Market make the report investor’s guide.
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Scope of the Report for Global Real time payment Market
Global Real time payment market, by Type
• 24*7*365
• Bank operating time
Global Real time payment market, by Component
• Solution
• Service
Global Real time payment market, by Enterprise size
• SEMs
• Large Enterprises
Global Real time payment market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Analysed in Global Real time payment market
• ACI Worldwide
• FIS, Fiserv
• Mastercard
• Worldline
• PayPal
• Visa, Apple
• Ant Financial
• INTELLIGENT PAYMENTS
• Tmenos
• Wirecard
• Global Payments
• Capgemini
• IntegraPay
• SIA
• Obopay
• Ripple
• Pelican
• Finastra
• Nets
• FSS
• Montran
• REPAY
• iCon Solutions.
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Collaboration by financial institutions and merchants for providing convenience to customers has led to formation of standards which ensure seamless financial transactions.
The Real Time Payment Market report by Market Research Future (MRFR) considers various factors and challenges to be faced by the industry for the period of 2018 to 2023 (forecast period).
The COVID-19 pandemic and its impact are noted in the report.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7060Market ScopeThe global real-time payment market is expected to reach USD 23.57 billion by the end of the forecast period with a CAGR of 29.7% over the forecast period.
However, security challenges can hamper market growth.SegmentationThe global real time payment market is segmented by solution, service, deployment, and verticals.By solution, the market is segmented into payment gateway, payment processing, fraud management, payment security, and others.By services, the market is segmented into professional services and managed services.By deployment, the market is segmented into on-premise, and cloud.By verticals, the market is segmented into energy & utilities, BFSI, IT & telecommunication, government, retail, and others.Competitive OutlookApple Inc, ACI Worldwide Inc, Visa Inc Class A, Wirecard AG, Worldline SA, Mastercard Inc, Paypal Holdings Inc, Temenos AG, Fidelity National Information Servcs Inc, and Fiserv Inc are key players of the global real time payment industry.
Other players include Capgemini SE, Ripple Labs Inc, Ant Financial Services Group, Global Payments Inc, Intelligent Payments Group Ltd, Montran, Financial Software & Systems Pvt.
Ltd, Icon Solutions Ltd, ACE Software Solutions Inc, REPAY, Finastra, IntegraPay, Obopay, Nets A/S, and others.Browse Complete Report @ https://www.marketresearchfuture.com/reports/real-time-payment-market-7060Regional AnalysisBy region, the real time payment market is segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).North America is the largest market for real-time payments.
Traditional payment methods aren’t great.
Payment methods should evolve with time.
Can the new real-time payment change the future of payments?Source URL: https://diro.io/real-time-payment/
The report on the Global Real Time Payment Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.
Market Highlights:The increasing penetration of smartphones, tablets and other internet-enabled devices is fuelling the m-commerce market.
Increasing mobile internet usage owing to improved bandwidth is expected to drive the real-time payment market.
Request Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7060 Key Players:The key players in the real time payment market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise.
Some of them are— ACI Worldwide Inc (US), Fidelity National Information Servcs Inc (US), Fiserv Inc (US), Paypal Holdings Inc (US), Wirecard AG (Germany), Mastercard Inc (US), Worldline SA (France), Temenos AG (Switzerland), Visa Inc Class A (US), and Apple Inc (US).
These include Ant Financial Services Group (China), Global Payments Inc (US), Capgemini SE (France), Icon Solutions Ltd (India), REPAY (US), IntegraPay (US), Obopay (US), Ripple Labs Inc (US), ACE Software Solutions Inc (US), Finastra (UK), Nets A/S (Denmark), Financial Software & Systems Pvt.
