24-April-2019: The global real-time payments
market size is estimated to reach at USD 39.02 billion by 2025 registering a
CAGR of 29.3%, according to a new study by Grand View Research, Inc. 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.
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.
In depth research report on Real-Time Payments Market
Further
key findings from the study suggest:
· 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
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
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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