Global Real-Time Payments Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Real-time Payments Market Introduction

The MarketResearch.biz announces publication of its most recently generated research report titled, “Global Real-time Payments Market by Component (Solutions and Services) By Payment Type (P2B, B2P, P2P, Other Payment Types), By Deployment Mode (Cloud and On-Premises), By End-Use Industry (BFSI, IT & Telecom, Healthcare and Education, Retail & E-commerce, Other End-Use Industries), and Region - Global Forecast to 2022 and 2031.”, which offers a holistic view of the global real-time payments market through systematic segmentation that covers every aspect of the target market.

The global real-time payments market is projected to be US$ 10.83 Bn in 2022 to reach US$ 119.0 Bn by 2031 at a CAGR of 30.5%.

A real-time payments system is a technology that enables instantaneous money transfer between banks and banking systems. Real-time payments enable people, businesses, and governments to make payments more quickly with funds immediately available for use. Real-Time Payments (RTP) combine instant funding availability, settlement finality, instant confirmation, and integrated information flow—all in seconds. RTP combines speed, data and communications that solve long-standing challenges of traditional payment systems.

Japan developed the first RTP system in the 1970s. By 2010, other countries, including the UK, China and India, had their own RTP rails. In 2019, FIS calculated that 54 countries had real-time payment systems enabled – a fourfold increase since 2014. The continued adoption and development of real-time capabilities worldwide shows that real-time is no longer a great option or it will soon become a priority.

Global Real-time Payments Market Revenue (US$ Bn), 2021–2031

Source: Prudour, 2021

Real-Time Payments (RTP) offers ubiquity, speed of payment, extensive data exchange, real-time messaging, and 24/7/365 availability. With such capabilities, real-time payments can help improve cash flow, operational efficiencies, customer engagement, data transparency, and accuracy. Because funds are available much faster, real-time payments will likely have a significant positive impact on a business’s cash flow, improving budgeting, financial projections, and overall cash management. In addition, real-time payments technology could also help improve operational efficiencies and boost customer engagement and satisfaction. This factor will drive the spontaneous growth of the real-time payments market globally.

Increasing online banking frauds to exploit vulnerabilities and gain illegal access to customer information and funds is a crucial restraining factor of the real-time payments market. Real-time payments give criminals the unprecedented ability to quickly move money through multiple accounts, thus concealing the origins of their funds and moving them beyond the reach of law enforcement. Fraudsters use malicious malware, phishing scams, social engineering, Remote Access Trojans (RATs), keylogging, and other methods to gain accounts and withdraw funds, also known as account takeover attacks. Hence, banks and other financial institutions need to be more diligent in watching for online fraud, first-party fraud, false claims and check fraud.

Global Real-time Payments Market Attractiveness Analysis by Payment Type, 2015–2031

Source: Prudour, 2021

The global real-time payments market is segmented by component, payment type, deployment mode, end-use industry, and region. Concerning the component aspect of this market's segmentation, the solutions sub-segment is anticipated to register the highest revenue share in the forecast period. Based on the payment type segment, the P2B sub-segment is slated to account for the highest revenue shares. On the basis of the deployment mode segment, the on-premise sub-segment is anticipated to register the highest revenue growth. On the basis of the end-use industry segment, the retail & e-commerce sub-segment is anticipated to register the highest revenue growth. With respect to segmentation by region, the markets in Asia-Pacific are projected to continue to account for the majority revenue share of the global real-time payments market.

Global Real-Time Payments Market Segmentation Based on Component, Payment Type, Deployment Mode, End-Use Industry, and Region

Based on Component:

• Solution
• Services

Based on Payment Type:

• P2B
• B2P
• P2P
• Other Payment Types

Based on Deployment Mode:

• Cloud
• On-Premises

Based on End-Use Industry:

• BFSI
• IT & Telecom
• Healthcare & Education
• Retail & E-commerce
• Other End-Use Industries

Based on Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

Key Players in the Market

• Alipay, PayPal Holdings Inc.
• Google Pay
• Apple Inc.
• Fiserv Inc.
• ACI Worldwide Inc.
• Paytm (One 97 Communications Ltd.)
• PROSA
• PhonePe Pvt. Ltd.
• BharatPe
• Other Industry Players