Real-Time Payments Market |(CAGR) of 24.5%| Size, Overview, Key Players, Latest Trends, Revenue, and Forecast 2032

The global real-time payments market revenue was around US$ 17.1 billion in 2022 and is estimated to reach US$ 123 billion by 2031, growing at a compound annual growth rate (CAGR) of 24.5% during the forecast period from 2023 to 2031.

Real-time payments is an inter-bank, fully electronic payment system in which irreversible funds are transferred from one bank account to another, and where validation back to the originator and receiver of the payment is available in one minute or less. Real-time payments are appealing to consumers and businesses because they are faster, more efficient, cheaper, and potentially lower-risk means of moving money compared to traditional techniques.

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Factors Influencing Market Growth

- Payment device flexibility, reduced transaction time, real-time transaction processing, and the rise in convenience are some of the major advantages delivered by real-time payments, which push the growth of the real-time payment market.

- Due massive adoption of real-time payments among merchants, and the growth in the usage of smartphones and faster connectivity, have allowed customers and retailers to achieve real-time payments through their smartphones, driving the growth of the real-time payment market.

- The growing difficulties in the replacement process of point-of-sale (POS) terminals and data breaches restrict the growth of the real-time payment market.

- The growth in initiatives and development toward digitalized payments is expected to deliver a potential growth opportunity for the real-time payment market.

Impact of COVID-19

The outbreak of the COVID-19 pandemic had a positive influence on the real-time payment market since the trend of contactless payment grew during the pandemic, which, resulted in a drop in check and cash payment procedures.

Regional Analysis

In 2022, North America dominated the real-time payment market and is anticipated to continue to dominate the market during the forecast period. This is attributed to the fast adoption of mobile wallets like Samsung Pay and Apple Pay that have contributed toward the growth of the real-time payments market in North America. Also, the rise in the trend of contactless payment during the pandemic boosted the adoption of real-time payment methods like QR codes and Near Field Communication (NFC).

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Leading Companies

The leading prominent companies profiled in the global real-time payments market are: -

- ACI Worldwide, Inc.
- Cognizant, FIS Inc.
- Financial Software & Systems Pvt. Ltd.
- Finastra
- Fiserv, Inc.
- Mastercard, Inc.
- Microsoft Corporation
- Mindgate Solutions Private Limited
- Montran Corp.
- PayPal Holdings, Inc.
- TCS
- Temenos AG
- Visa Inc.
- Volante Technologies Inc.
- Sila
- Rapyd
- Other prominent key players

Segmentation Outline

The global real-time payments market segmentation focuses on Component, Deployment Model, Enterprise Size, Industry Vertical, and Region.

Segmentation based on Component

- Solution
- Services
- Professional Services
- Managed Services

Segmentation based on Deployment Model

- On-premises
- Cloud

Segmentation based on Enterprise Size

- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)

Segmentation based on Industry Vertical

- BFSI
- IT and Telecommunications
- Retail and e-commerce
- Government
- Energy and Utilities
- Others

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Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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Analyze market outlook with recent trends and SWOT analysis.

Dynamic market scenario along with market growth opportunities for the coming years.

Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.

Regional and national analyzes integrating supply and demand forces that are influencing market growth.

Market value (millions of dollars) and volume (millions of units) data for each segment and sub-segment

Competitive scenario involving the market share of the main players, along with the new projects and strategies adopted by the players in recent years.

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