Market For Real-Time Payments Market To Record Heightened Sales During Forecast Period 2022 - 2031 : Fact.MR

Fact.MR foresees that the demand for real-time payments is projected to expand at a CAGR of 33% in terms of value during the period of assessment. Moreover, the report estimates that the market for real-time payments is likely to surpass US$ 277.09 Bn by end of 2032.

The market growth can be attributed to the increasing digitization in the fintech sector and growing volumes of non-cash transactions. In addition, the increasing popularity of open API-enabled real-time payment systems in banks is also expected to contribute to market growth.

Numerous fintech companies are making efforts to develop innovative solutions to ensure better security while making payments using bank cards and smart phones. Fintech companies are also striking partnerships with payment technology companies to improve their digital offerings and effectively meet the changing consumer demands.

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Key Market Segments in Real-Time Payments Industry Research

By Payment Type
P2B Real-Time Payments
B2B Real-Time Payments
P2P Real-Time Payments
Other Real-Time Payment Types

By Component Outlook
Real-Time Payment Solutions
Payment Gateway
Payment Processing
Security & Fraud Management
Advisory Services
Integration & Implementation Services
Managed Services
Real-Time Payment Services

By Deployment
Cloud-based Real-Time Payments
On-premise Real-Time Payments
Enterprise Size
Real-Time Payments for Large Enterprises
Real-Time Payments for Small & Medium Enterprises (SMEs)

End Use Industry
Real-Time Payments for Retail & E-commerce
Real-Time Payments for BFSI
Real-Time Payments for IT & Telecom
Real-Time Payments for Travel & Tourism
Real-Time Payments for Government
Real-Time Payments for Healthcare
Real-Time Payments for Energy & Utilities
Real-Time Payments for Other End Use Industries

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Key Takeaways from the Market Study

Global market to be valued at US$ 16 Bn by 2022
P2B real-time payments to account for 63% revenue share through 2022
Real-time payment solutions to comprise 3/4th of the global market demand through 2022
Over 3 out of 5 real-time payments to be deployed on-premise through 2032
Real-time payments for large enterprises to dominate, acquiring 2/3rd revenue
North America and Asia-Pacific to collectively yield 80% of the global market revenue

Competitive Landscape

The competitive landscape of the real-time payments market is shaped by product innovation and strategic mergers & acquisitions. Some prominent manufacturers of real-time payments are ACI Worldwide, Inc.; Mastercard Inc.; Finastra; Visa Inc.; PayPal Holdings, Inc.; Fiserv, Inc.; Fidelity National Information Services, Inc. (FIS Inc.); Wirecard AG; Worldpay, Inc.; Temenos AG; Montran Corporation; and Volante Technologies Inc. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:

In June 2021, Mastercard Incorporated announced the launch of PayPort+, a next-generation real-time payment gateway service, to provide payment service providers and financial institutions with flexible access to the U.K.'s real-time payment infrastructure. The PayPort+ solution is powered by Vocalink, a Mastercard company, and Form3, a technology partner.

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