Real-Time Payments Market Size, Growth, Share, Demand Analysis 2024-2032

Real-Time Payments Market Insights

According to a report from Zion Market Research, the global Real-Time Payments Market was valued at USD 25.86 Billion in 2023 and is projected to hit USD 435.45 Billion by 2032, with a compound annual growth rate (CAGR) of 32.6% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Real-Time Payments industry over the next decade.

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Global Real-Time Payments Market: Overview

Real-time payments refers to the electronic or digital payment technologies that allow the transaction to be approved in real time or immediately and the funds to be credited to the payee 's account and subsequently reported to the payer. Convenience and quicker availability of funds and the reception of money transfer provided by these systems are gaining popularity among end-users as well as service providers. It is an on-going payment service that can be made available at any time and for any period. Real-time payment can be conducted from a wide variety of apps and computers, such as tablets, laptops, mobile applications and digital wallets.

Global Real-Time Payments Market: Growth Factors

Increasing smartphones penetration, along with increasing demand for pay-now facility are among the major factors propelling growth of the real-time payments market. In addition to this, growing need for fast and secure instant payment gateways is another factor expected to fuel growth of the target industry in the near future. Furthermore, real-time payment systems are majorly used in the banking, financial services sectors and growing digitalization among multiple areas are in turn fuelling the global market growth. However, increasing market competition may hamper growth of the global market in the coming years. Nevertheless, technological advancements and improving changes in regulatory framework may create huge growth opportunities in future.

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Global Real-Time Payments Market: Segmentation

The real-time payments market is segmented based on payment type, deployment mode, component, application. Based on payment type the market is divided as Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), Business-to-Business (B2B), and Others. By Deployment Mode, the global market is segregated as on-premises and cloud. On the basis of component the global market is divided as services and solutions. Services segment is segmented as managed services, professional services and solutions segment is categorised as payment processing solution, payment gateway solution, payment security solution, fraud management solution. On the basis of application the global industry is divided as banking, financial services, and insurance (BFSI), information technology (IT) and telecom, healthcare and education, manufacturing and transportation, government and utilities, construction and retail, others.  

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Real-Time Payments Market: Report Scope

Global Real-Time Payments Market: Regional Analysis

The North America real-time payments market is projected to hold the significant share globally in the future, owing to the presence of major players, and increasing demand from various end use industries in the countries of North America. Further, penetration of smartphones and growing demand for pay-now facility are expected to fuel growth of the market in the Asia Pacific. The Europe real-time payments market is anticipated to grow at a rapid rate in the years ahead. This is due to increasing demand form banking, financial services and increasing digitalization in the countries of the region.

Global Real-Time Payments Market: Competitive Players

Some main participants of the real-time payments market are:

• CI Worldwide
• FIS
• Fiserv
• Mastercard
• Worldline 
• PayPal 
• Visa
• Apple
• Ant Financial 
• INTELLIGENT PAYMENTS
• Tmenos
• Global Payments
• IntegraPay
• Obopay
• Ripple 
• Pelican 
• Finastra
• Nets 
• Montran 
• REPAY
• Icon Solutions among others.

The Global Real-Time Payments Market is segmented as follows:

By Payment Type 

• Person-to-Person (P2P)
• Person-to-Business (P2B)
• Business-to-Person (B2P)
• Business-to-Business (B2B)
• Others

By Deployment Mode 

• On-Premises
• Cloud

By component 

• Services
  • Managed Services,
  • Professional Services 
• Solutions
  • Payment Processing Solution
  • Payment Gateway Solution
  • Payment Security Solution
  • Fraud Management Solution

By Application 

• Banking
• Financial Services
• Insurance (BFSI)
• Information Technology (IT) and Telecom
• Healthcare and Education 
• Manufacturing and Transportation 
• Government and Utilities 
• Construction and Retail, Others

Real-Time Payments Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa