Real-Time Payments Market (By Payment Type: P2B, B2B, P2P; By Component: Solutions, Services; By Deployment: Cloud, On-premise; By Enterprise Size: Large Enterprises, Small & Medium Enterprises; By End-use: Retail & E-commerce, BFSI, IT & Telecom, Travel & Tourism, Government, Healthcare, Energy & Utilities) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 � 2030

The global real-time payments market size was valued at USD 12.60 billion in 2021, and is predicted to be worth around USD 192.10 billion by 2030, registering a CAGR of 33.11% during the forecast period 2022 to 2030.

Growth Factors:

The market growth can be attributed to the increasing digitization in the fintech sector and growing volumes of non-cash transactions. In addition, the increasing popularity of open API-enabled real-time payment systems in banks is also expected to contribute to market growth. For instance, as per a survey conducted by Finastra, a fintech firm, in 2020, 86% of global banks surveyed were planning to adopt open APIs to enable open banking capabilities by next year. Numerous fintech companies are making efforts to develop innovative solutions to ensure better security while making payments using bank cards and smartphones.

The market growth can be attributed to the high proliferation of smartphones and the adoption of cloud-based solutions for faster payments. In addition, the increasing demand from customers for quicker payment settlements and growing investments from financial institutes and governments to boost the adoption of real-time payment solutions are expected to accelerate the market growth. The incorporation of innovative technologies, such as Artificial Intelligence (AI) and IoT, in digital payment platforms, is also expected to contribute to the demand for real-time payment solutions..

Report Coverage

By Payment Type Analysis

The P2B segment dominated the market in 2021 and accounted for a 64.0% share of the global revenue. P2B payments refer to monetary transactions between customers and businesses. The unabated growth of mobile commerce and e-commerce is a key factor driving the growth of the segment.

The P2P segment is anticipated to register the highest growth rate over the forecast period. Various cross-border payment companies are making efforts to develop real-time P2P payment solutions by striking strategic partnerships with banks and financial service providers. 

MoneyGram International, a cross-border payment service provider, and Visa, a payment technology company, announced the launch of a real-time Peer-to-Peer (P2P) payment solution in Vietnam through Visa Direct. The solution enables customers from the U.S., U.K., and 18 other European countries to transfer money to Vietnam quickly using Visa Direct.

By Component Analysis

The solutions segment dominated the market in 2021 and accounted for a share of over 77% of the global revenue. The segment has been further divided into the payment gateway, payment processing, security & fraud management.

Merchants manage a large volume of transactions, which has propelled the integration of gateway systems into their sales channels. For instance, in November 2020, Shopify, an e-commerce company, announced its partnership with Alibaba Group Holding Ltd., an Alipay payment gateway provider.

The company’s payment gateway enables Shopify merchants to seamlessly accept payments in China. Advancements in technologies coupled with the rapid growth of the e-commerce sector are driving the need for payment security and fraud management solutions. 

By Deployment Analysis

The on-premise segment dominated the market in 2021 and accounted for a share of more than 60.5% of the global revenue. Numerous companies across the globe are striking partnerships with payment technology companies to deliver on-premise real-time payment solutions.

A software company that provides real-time payment solutions, announced its partnership with Mastercard, a payment technology company, to offer a wide range of real-time payment solutions supporting on-premise software for the central bank, government, and system operator owned platforms.

The cloud segment is anticipated to register the fastest growth rate over the forecast period. The increasing adoption of mobile-based payment solutions across the globe is driving the growth of this segment.

Numerous fintech companies are enhancing their cross-border payment platforms through integration with cloud-based platforms to provide a better customer experience to the customers. 

By Enterprise Size Analysis

On the basis of enterprise size, the global market has been bifurcated into large and Small- and Medium-sized Enterprises (SMEs). The large enterprises size segment dominated the market in 2021 and accounted for the maximum share of more than 66% of the global revenue.

On the other hand, the SMEs enterprise size segment is anticipated to register the fastest growth rate over the forecast period. A number of SMEs across the world are transitioning from traditional paper-based invoicing to digital invoicing. 

By Regional Analysis

Asia Pacific dominated the market in 2021 and accounted for the maximum share of around 40.0% of the global revenue. The regional market is projected to expand further at the fastest CAGR over the forecast period. The growing adoption of real-time payment solutions by large-scale as well as small- & medium-scale enterprises in Asia Pacific is expected to drive the regional market growth. 

North America is expected to witness a steady growth rate over the forecast period. The region is home to several prominent players in the global market. The growing number of immigrants in North American countries, such as the U.S. and Canada, is expected to increase the number of cross-border disbursements, which, in turn, is estimated to support the market growth in these countries.

By End-use Analysis

The retail & e-commerce segment dominated the market in 2021 and accounted for a share of more than 34.5% of the global revenue. The increasing demand for instant payment settlement from retailers and merchants has accelerated the adoption of real-time payment solutions in this segment.

The Banking, Financial Services, and Insurance (BFSI) end-use industry segment is anticipated to register the second-fastest growth rate over the forecast period. Banks across the globe are launching real-time payment solutions to enhance customer experiences. 

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Real-Time Payments Market include:

• ACI Worldwide, Inc.
• Fidelity National Information Services, Inc. (FIS Inc.)
• Finastra
• Fiserv, Inc.   
• Mastercard, Inc.
• Montran Corp.
• PayPal Holdings, Inc.
• Temenos AG
• Visa Inc.
• Volante Technologies Inc.
• Wirecard AG
• Worldpay, Inc. 

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Market Segmentation

• By Payment Type 
• P2B
• B2B
• P2P
• Others
• By Component 
• Solutions
• Payment Gateway
• Payment Processing
• Security & Fraud Management
• Advisory Services
• Integration & Implementation Services
• Managed Services
• Services
• By Deployment 
• Cloud
• On-premise
• By Enterprise Size 
• Large Enterprises
• Small & Medium Enterprises
• By End-use Industry
• Retail & E-commerce
• BFSI
• IT & Telecom
• Travel & Tourism
• Government
• Healthcare
• Energy & Utilities
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Real-Time Payments market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Real-Time Payments market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Real-Time Payments markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Real-Time Payments Market Study:

• Growth of Real-Time Payments in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Real-Time Payments and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Real-Time Payments Consumption Analysis
•  Real-Time Payments Production Analysis
•  Real-Time Payments and Management