Real-time Payments Market worth $103.74 billion by 2030, growing at a CAGR of 23.72% - Exclusive Report by 360iResearch

The "Real-time Payments Market by Component (Services, Software), Nature of Payment (Business-to-Business (B2B), Business-to-Government (B2G), Government-to-Business (G2B)), Industry - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Real-time Payments Market to grow from USD 18.89 billion in 2022 to USD 103.74 billion by 2030, at a CAGR of 23.72%.

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Real-time Payments (RTP) refers to electronic payment systems that enable instant funds transfer between banks and banking systems. This means that the transaction and settlement process occurs within seconds, providing immediate availability of funds to the recipient and allowing for quick confirmation to both the sender and recipient. Unlike traditional banking systems, which may take days to process transactions, particularly across borders, real-time payments operate 24/7, including weekends and holidays, ensuring that conventional timing restrictions do not bind financial transactions. This innovative payment system is becoming increasingly fundamental to enhancing modern financial services, offering improved cash flow management, reduced risk of fraud, and streamlined payment processing that meets the needs of a digital economy. Increasing demand for instant gratification and seamless transactions among consumers is primarily driving the adoption of real-time payments. Moreover, innovations in digital technologies, such as mobile payment platforms, blockchain, and APIs, continue to facilitate and expand the capabilities of real-time payments. However, the instant nature of real-time payments could potentially increase the risk of fraud and cyber-attacks. Moreover, navigating complex and varying regulations across different jurisdictions can pose significant hurdles. The emergence of new business models around Banking-as-a-Service (BaaS), leveraging real-time payments infrastructure, may provide an opportunistic landscape for market growth. Moreover, the integration of AI and machine learning for fraud detection and enhanced security coupled with blockchain and distributed ledger technology to streamline cross-border payments may provide added growth for the market trajectory.

The landscape for the real-time payments market in the Americas is influenced by a number of factors, including increasing consumer demand for instant and mobile payment solutions spurred by the widespread adoption of smartphones and the internet. Furthermore, there is a growing ecosystem of fintech startups and established financial institutions investing heavily in real-time payment infrastructures to provide enhanced customer experiences and remain competitive. The supportive regulatory environment, especially in countries including the United States and Canada, has facilitated the development and promotion of faster payment systems. Another factor is the collaboration between private and public sector players that has accelerated the implementation of real-time payment initiatives across the region. In the EMEA region, the momentum behind real-time payments is being driven primarily by regulatory mandates, such as the PSD2 in Europe, which has encouraged the creation of open banking frameworks, enabling new payment services and providers to enter the market. Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme across numerous European countries has significantly contributed to the upsurge in real-time transactions. In the Middle East and Africa, the high number of unbanked and underbanked populations has presented an opportunity for mobile payment solutions to bridge the financial inclusion gap, a crucial factor driving the adoption of real-time payment systems in these regions. The Asia Pacific region showcases a rapid growth landscape for the real-time payments market owing to factors such as the high penetration of mobile devices, a large and growing internet-savvy population, and the heavy investments by regional governments in building national payment infrastructures. The proliferation of e-commerce and digital wallets, where speed of transaction is a key competitive differentiator, has also propelled the interest in and adoption of real-time payments. In addition, economies such as China, India, and Southeast Asian countries have shown considerable fintech innovation, reshaping the payments landscape. These technology-driven changes enable real-time transactions at an unprecedented scale in the region.

Market Segmentation & Coverage:

This research report categorizes the Real-time Payments Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Services and Software. The Services is further studied across Managed Services and Professional Services. The Software is further studied across Payment Gateway, Payment Processing, and Payment Security & Fraud Management. The Software commanded largest market share of 68.18% in 2022, followed by Services.

Based on Nature of Payment, market is studied across Business-to-Business (B2B), Business-to-Government (B2G), Government-to-Business (G2B), Government-to-Person (G2P), Person-to-Government (P2G), and Person-to-Person (P2P). The Person-to-Person (P2P) commanded largest market share of 25.38% in 2022, followed by Business-to-Business (B2B).

Based on Industry, market is studied across BFSI, Energy & Utilities, Government, IT & Telecom, and Retail & E-commerce. The BFSI commanded largest market share of 26.27% in 2022, followed by Retail & E-commerce.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 39.30% in 2022, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Real-time Payments Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Real-time Payments Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Real-time Payments Market, highlighting leading vendors and their innovative profiles. These include ACE Software Solutions Inc., ACI Worldwide, Inc., Alacriti, Apple Inc., Bank of America Corporation, Capgemini SE, EVO Payments, Inc., Fidelity National Information Services, Inc., Financial Software & Systems Pvt., Ltd., Finastra International Ltd, Fiserv, Inc., Global Payments Inc., Icon Solutions Ltd., JPMorgan Chase & Co., Mastercard Inc., Montran Corporation, Network for Electronic Transfers (S) Pte Ltd, Nexi S.p.A., Obopay Mobile Technology India Private Limited, PayPal Holdings, Inc., Payrix Solutions, LLC, Repay Holdings, LLC, Ripple Labs Inc., S.W.I.F.T. SC, Temenos AG, Visa Inc., and Worldline Group S.A..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Real-time Payments Market, by Component
7. Real-time Payments Market, by Nature of Payment
8. Real-time Payments Market, by Industry
9. Americas Real-time Payments Market
10. Asia-Pacific Real-time Payments Market
11. Europe, Middle East & Africa Real-time Payments Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Real-time Payments Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Real-time Payments Market?
3. What is the competitive strategic window for opportunities in the Real-time Payments Market?
4. What are the technology trends and regulatory frameworks in the Real-time Payments Market?
5. What is the market share of the leading vendors in the Real-time Payments Market?
6. What modes and strategic moves are considered suitable for entering the Real-time Payments Market?

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