Real-Time Payments Market Revenue Share, Growth Factors, Trends, Analysis & Forecast, 2020

The global real-time payments market is forecast to reach USD 90.19 Billion by 2028, according to a new report by Reports and Data. Real-time payments help businesses trim their expenses by reducing the use of checks and other expensive payment methods. Real-time payment services enable companies to modernize their accounts receivable processes as they provide the information required to link invoices with payments in real-time.

The information provided by real-time payment services can reduce the efforts involved in investigating exceptions and checking the status of the payment, as these systems support two-way communications between payers and the payees. Faster payment systems are expected to relay more information than traditional methods allow. Real-time systems can be expected to provide valuable information that flows with the payment transactions, allowing businesses to attain abilities in straight-through processing, achieve a better view of cash flows, and enable more informed operational decision-making.

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Further key findings from the report suggest

Among the payment types, the customer-to-business (C2B) accounted for the largest market share of ~32% in the year 2018. The growing retail and e-commerce industry is a significant factor contributing to the growth. The penetration of the internet and smartphones will also drive the segment in the coming years. Moreover, the growing population and their increasing disposable incomes will increase the demand for digital commerce globally.
The peer-to-peer (P2P) is forecasted to witness the highest growth rate of 9% during the forecast period. The growing number of customers making payments through digital applications is contributing to growth. The popularity of UPI payments and the increasing number of companies in the market will further boost a wide acceptance of real-time digital payment services.
Among the payment modes, net banking accounted for the largest market share of ~27% in the year 2018. The growing acceptance of smartphones, the internet, and advanced technologies in the industry is a significant factor boosting the segment. Customers are aware of these technologies and find them convenient to go cashless.
The contactless payment segment is forecasted to witness a higher growth rate of 31.6% during the forecast period. The integration of RFID and NFC technologies in the market influences the segment growth. The popularity of smart cards is another factor driving the overall market.
Asia Pacific held the largest market share of ~31% in the year 2018. The region is rapidly adopting new and advanced technologies. High penetration of cloud technology, the internet of things, machine learning, artificial intelligence, and big data, among others, are propelling the market in the region. Moreover, the region is continuously investing in sustainable and green solutions, owing to the growing pollution.
Key participants include FIS, ACI Worldwide, Mastercard, Fiserv, PayPal, Worldline, Apple, Visa, INTELLIGENT PAYMENTS, Ant Financial, Wirecard, Temenos, Capgemini, Global Payments, SIA, IntegraPay, Ripple, Obopay, Finastra, Pelican, FSS, Nets, REPAY, Montran, and Icon Solutions, among others.

Market Segmentation:

The global Real-Time Payments market report covers a detailed analysis of the market segmentation to provide key insights into the scope of the market expansion. The global Real-Time Payments market has been segregated on the basis of product types, applications, end-users, and key regions of the industry.

Payment Type Outlook (Revenue, USD Billion; 2018-2028)

Peer-to-Peer (P2P)
Customer-to-Business (C2B)
Business-to-Customer (B2C)
Business-to-Business (B2B)
Others

Payment Mode Outlook (Revenue, USD Billion; 2018-2028)

Contact Payment
Digital Currencies
Contactless Payment
Net Banking
Digital Wallets
Others

Deployment Mode Outlook (Revenue, USD Billion; 2018-2028)

Cloud
On-Premises

Organization Size Outlook (Revenue, USD Billion; 2018-2028)

Small and Medium-Sized Enterprise
Large Enterprises

Industry Vertical Outlook (Revenue, USD Billion; 2018-2028)

Media And Entertainment
Hospitality And Tourism
Retail And E-Commerce
IT And Telecommunication
Banking, Financial Services, And Insurance (BFSI)
Others

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Regional Analysis:

The regional bifurcation of the Real-Time Payments market report is a comprehensive segment that covers a thorough analysis of the market dynamics and offers critical insights on import/export ratio, supply and demand dynamics, revenue share, market size, market share, industry analysis, production and consumption patterns, and the current and emerging trends of each region. The report also offers a country-wise analysis to confer a better understanding of the market.

The prominent geographical regions of the market include:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Competitive Landscape:

The global Real-Time Payments market report covers a comprehensive overview of the market’s competitive landscape, providing a detailed analysis of the company profile, product portfolio, market position, global network, revenue share, profit margins, technological and product advancements, and SWOT analysis of each player. The report also provides extensive insights into strategic business expansions such as mergers acquisitions, collaborations, corporate deals, distribution partnerships, and product launches, among others.

Key Highlights from the Report:

Detailed overview of the Real-Time Payments market in the forecast years

Accurate estimation through in-depth analysis of key market trends and features

Extensive regional analysis and insights regarding the regions projected to exhibit lucrative growth

Comprehensive analysis of the competitive landscape

Study of the recent development and trends in the market

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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