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Published Date: November, 2018

Real-time Payments Market (Components - Software, and Services; Nature of Payment - Person-to-Person (P2P), Person-to-Bank (P2B), and Bank-to-Person (B2P); Deployment Mode - On-Premises, and Cloud-Based; Industry Verticals - BFSI, Retail and E-Commerce, IT-Telecom, Government, Energy and Utilities, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024


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A recent report published by Infinium Global Research on real-time payments market provides an in-depth analysis of segments and sub-segments in The global as well as regional real-time payments market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional real-time payments market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global real-time payments market. According to the report, the global real-time payments market is projected to grow at a CAGR of 30.4% over the forecast period of 2018-2024.


Market Insight

The real-time payments are rapidly transforming the payment industries. The various countries across the world are massively adopting the real-time payment (RTP) as the faster way to accomplish the near-real-time exchange of funds. This enables easy, convenient, secure and the high-speed fund transferring. The real-time payment guarantees and the immediate availability of the funds are the key compensations offered by the real-time payments over the traditional payment transferring methods. The real-time payment provides person-to-person (P2P), person-to-bank (P2B), and bank-to-person (B2P) transaction facilities.

 

Nowadays, the banks are more focusing to provide new payment platforms and solutions to fulfill the higher expectations from consumers. The growing adoption of real-time payments in the banks is driving the growth of real-time payment market. The growing expectations of consumers to access everything in the real-time is expected to contribute in the growth of real-time payment market.  The Real-time payments deliver the high flexibility and superior services to the consumers. The Technological innovations in the domestic person-to-person (P2P) payment facilities are trending rapidly. The availability of social platforms, digital currencies and near-field-communication (NFC) based payments are having a positive impact on domestic payments. In addition, the updated regulation in addressing the online payments are likely to accelerate the growth of real-time payment market.

 

Retailers and many companies are introducing real-time payments to enhance their cash flow management thus anticipating the growth of real-time payment market. Additionally, the real-time payment helps them to provide gradational value to the customers and minimize the fraud activities. In the last few years, the various new startups have launched mobile payment applications. The growing advancements in mobile technologies are expected to create a positive impact on the real-time payments market.

 

Furthermore, the rising government initiative to adopt the real-time payments are projected to create the various growth opportunities for the real-time payments market in upcoming years. The several nations and financial institutions have launched their own system (or services) to improve the speed of payments. These real-time payments help them to deliver payments to millions of users and collect and transmit data in the process. Moreover, the growing use of real-time payments across the various industry verticals is projected to create various opportunities for the companies working in the real-time payment market.

 

Among the geographies, the Asia Pacific is the largest and the fastest growing region in the real-time payment market.  The high adoption rate of advanced technologies and increasing digitalization are driving the growth of real-time payments market in this region. In addition, high investments from real-time payments solution, growing aging population, rising disposable income are some factors that contribute to the growth of the real-time market in the Asia Pacific region. On the other side, North America is also focusing on the introduction of real-time payments across various industrial verticals. In the U.S., Fed, NACHA and The Clearing House are working collaboratively and independently to make faster payments a reality. The ongoing developments and technological advancement in real-time payments are projected to create various growth opportunities in this market across the North America region.   

 

Segment Covered

The report on global real-time payments market covers segments such as component, nature of payment, deployment mode, and industry verticals. On the basis of the component, the global real-time payments market is categorized into software, and services. On the basis of nature of payment, the global real-time payments market is categorized into person-to-person(P2P), person-to-bank (P2B), and bank-to-person (B2P). On the basis of deployment mode, the global real-time payments market is categorized into on-premises, and cloud-based. On the basis of industry verticals, the global real-time payments market is categorized into BFSI, retail and E-commerce, IT-telecom, government, energy and utilities, and others.


Real-time Payments Market


Geographic Coverage

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the real-time payments market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.

 

Companies Profiled:

The report provides profiles of the companies in the global real-time payments market such as PayPal Holdings, Inc., Mastercard, Visa Inc., Apple Inc., Capgemini, Network for Electronic Transfers (Singapore) Pte Ltd, Financial Software & Systems Pvt. Ltd, FIS, ACI Worldwide, Inc., and Fiserv, Inc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global real-time payments market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of real-time payments market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the real-time payments market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the real-time payments market to understand the present and future trends in this market and formulate their strategies accordingly.

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