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Real-Time Payments Market Showcase Healthy Expansion At CAGR Of 29.3% From 2019 To 2025: Grand View Research Inc.

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Real-Time Payments Market Showcase Healthy Expansion At CAGR Of 29.3% From 2019 To 2025: Grand View Research Inc.

April 10
12:04 2019
Real-Time Payments Market Showcase Healthy Expansion At CAGR Of 29.3% From 2019 To 2025: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Growing e-commerce sector and adoption of smartphones coupled with the rising need for fast and convenient payment solutions in large and Small & Medium Enterprises (SMEs), are anticipated to fuel the RTP market expansion.

According to a report,“Real-Time Payments Market Size, Share & Trends Analysis Report By End-use Industry, By Nature of Payment (P2B, B2B, P2P), By Enterprise Size (Large, SME), By Component, By Deployment, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., the global real-time payments market size is estimated to reach at USD 39.02 billion by 2025 registering a CAGR of 29.3%. Real-time payments are digital/electronic payments that allow the immediate transfer of funds in real time through a secured payment gateway. Growing e-commerce sector and adoption of smartphones coupled with the rising need for fast and convenient payment solutions in large and Small & Medium Enterprises (SMEs), are anticipated to fuel the RTP market expansion.

The real time payments infrastructure can significantly enhance the payments’ stakeholders experience of disbursements and refunds – a frequent issue for merchants and consumers alike as card refunds generally take at least a few days to process and clear. Real-time payments solutions are being widely adopted across various industries, such as retail and e-commerce, BFSI, and IT & telecom, owing to their benefits in terms of speed, security, and transparency. Rising demand for advanced analytics for payment-related data from merchants and corporate users is also driving the market.

 Key Takeaways from the report:

  • The Asia Pacific regional market accounted for the largest share in the past and is anticipated to witness the highest CAGR over the forecast period

  • This growth can be attributed to the increasing number of new instant payment providers and government initiatives to promote digital payments

  • Retail and consumer goods industry held the largest market share in the past and is expected to register the maximum CAGR during the forecast years

  • This growth is mainly due to high demand for instant payment solutions from of large- and small-sized e-retailers and merchants

  • Prominent companies in the market are Finastra; MasterCard, Inc.; Fidelity National Information Services, Inc. (FIS Inc.); Fiserv, Inc.; ACI Worldwide, Inc.; and Visa, Inc.

  • These companies focus more on M&A to enhance product and services portfolios and expand regional presence

U.S. real-time payments market size, by nature of payment, 2015 - 2025 (USD Billion)

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Global real-time payments market share, by end-use industry, 2018 (%)

Moreover, availability of advanced online payment systems, such as Google Pay, Apple Pay, and Samsung Pay, and rising adoption of such solutions by large e-commerce retailers are expected to lead the market growth over the forecast period. Additionally, favorable government initiatives about digital payments across emerging economies, such as India, and China, are estimated to create significant opportunities for market entrants. The Asia Pacific market is anticipated to witness a significant expansion over the forecast period due to increasing e-commerce sales and adoption of smartphones.

Key companies in the market focus on M&A to enhance their product portfolios, expand geographical presence, and consumer base to deliver RTP solutions across various industries. For instance, in June 2016, MasterCard Inc. acquired VocaLink Holdings Ltd. (92.4% stakes) for a deal worth USD 920 million, which allowed MasterCard to strengthen its role in the U.K. payments ecosystem. However, growing cybersecurity concerns and lack of network interoperability among multiple payment-related schemes, such as Automated Clearing House (ACH) and Society for Worldwide Interbank Financial Telecommunications (SWIFT), could hamper the market growth.

Grand View Research has segmented the global real-time payments market on the basis of nature of payment, component, deployment, enterprise size, end-use industry, and region:

RTP Nature of Payment Outlook (Revenue, USD Million, 2015 – 2025)

  • P2B

  • B2B

  • P2P

  • Others

RTP Component Outlook (Revenue, USD Million, 2015 – 2025)

  • Solutions

    • Payment Gateway

    • Payment Processing

    • Security & Fraud Management

  • Services

    • Advisory Services

    • Integration & Implementation Services

    • Managed Services

RTP Deployment Outlook (Revenue, USD Million, 2015 – 2025)

  • On-Premises

  • Cloud-Based

RTP Enterprise Size Outlook (Revenue, USD Million, 2015 – 2025)

  • Large Enterprises

  • Small & Medium Enterprises (SMEs)

RTP End-use Industry Outlook (Revenue, USD Million, 2015 – 2025)

  • Retail & E-Commerce

  • BFSI

  • IT & Telecom

  • Travel & Tourism

  • Healthcare

  • Government

  • Energy & Utilities

  • Others

RTP Regional Outlook (Revenue, USD Million, 2015 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Sweden

    • Denmark

    • Switzerland

  • Asia Pacific

    • China

    • India

    • Japan

    • Singapore

  • South America

    • Brazil

    • Argentina

  • MEA (Middle East & Africa)

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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Website: www.grandviewresearch.com/industry-analysis/real-time-payments-market

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