Real Time Payment Market Size By Payment, By Component, By Deployment, By Enterprise, By End-use Industry, And By Geography 2030

The Global Real Time Payment Market Size accounted for USD 11.4 Billion in 2021 and is estimated to achieve a market size of USD 117.5 Billion by 2030 growing at a CAGR of 30% from 2022 to 2030.

Real Time Payment Market Statistics:

• Global real time payment market revenue was worth USD 11.4 billion in 2021, with a 30% CAGR from 2022 to 2030
• Asia-Pacific region was accounted 38.8% of real time payment market share in 2021
• North America real time payment market growth is expected to expand at a CAGR of 31.3% from 2022 to 2030
• By payment, P2B segment capture over 63.2% of total market share in 2021
• Rapid adoption of cloud-based solutions, drives the real time payment market value

Real Time Payment Market Overview

Real time payments (RTP) are digital transactions that allow for the rapid movement of monies through a safe payment gateway. The expansion of the RTP market is expected to be fueled by growing web-based enterprises such as the e-commerce segment & cell phone usage, as well as the growing demand for rapid and convenient payment systems in large and Small as well as Medium Enterprises (SMEs).

Real Time Payment Market Trends

The real-time payments network can substantially enhance payment providers' awareness of disbursements including refunds - a persistent issue for merchants and shoppers alike, as cardholder discounts typically take several months to approve and clear. Real-time payment systems are generally adopted throughout several endeavors, for instance, retail and digital business, Banking, IT, and telecom, due to their advantages in terms of speed, safety, and transparency. Increasing adoption from dealers and corporate customers for enhanced payment-related analytics is also propelling the market.

Furthermore, the availability of enhanced electronic payment systems, such as Google Pay, Apple Pay, and Samsung Pay, as well as the growing acceptance of such systems by significant e-commerce retailers, are required to drive market expansion throughout the forecast time frame. Furthermore, positive government actions on enhanced payments across developing nations, for example, China and India are expected to provide significant potential for market competitors. The Asia-Pacific market is expected to have rapid growth in the next years as a result of rising e-commerce transactions and mobile phone use.

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Real Time Payment Market Segmentation                        

The global real time payment market has been segmented by Acumen Research and Consulting based on payment, component, deployment, enterprise, and end-use industry. By payment, the segment is separated into P2B, B2B, and P2P. According to the real time payment market forecast, the P2P category is predicted to develop significantly in the next years.

Based on components, the global real time payment market is segregated into solutions and services. The solution is even further divided into payment processing, payment gateway, and security and fraud management components. Service is fragmented into managed services, advisory services, and integration & implementation services. In terms of deployment, the global real time payment market is categorized into cloud-based, and on-premises. By enterprise, the global real time payment market is classified into SMEs and large enterprises. Based on the end-use industry, the global real time payment market is segregated into retail & e-commerce, government, travel & tourism, healthcare, BFSI, IT & telecom, energy & utilities, and others.

Real Time Payment Market Regional Overview    

The global real time payment market is divided into five regions: North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. According to a real-time payment industry analysis, the Asia-Pacific region held the most market share in 2021 and is expected to grow at the highest CAGR over the specified time frame. This is attributed to variables such as increased cell phone use in emerging economies and good government activity associated with sophisticated transactions. Furthermore, the growing numbers of web-based corporate customers, as well as the expanding adoption of the RTP system among SMEs in emerging economies such as India and China, are expected to propel the development even further.

Growing governments concentrate on creating their own RTP platforms in each country, such as Swish in Sweden, Accelerated Transactions in the United Kingdom, and FAST in Singapore is expected to boost market development. However, escalating cyber security issues, coupled with interoperability challenges among several RTP setup schemes, for instance, The Clearing House (TCH) & Association for Worldwide Interbank Financial Telecommunications (SWIFT) are expected to stymie RTP market expansion over the projected timeframe.

The emergence of the European Payment Council SEPA Credit Transfer (EPC SCT) Inst plan in 2017 - a container European moment payment plan to convey a common stage over all SEPA nations and domains - has expanded the acceptance of RTP solutions in key European nations such as the United Kingdom and Sweden. Regardless, the German market has had low transaction volumes as of late, owing to the non-migration of its two largest banks, Deutsche Bank and Commerzbank, as well as the absence of a home champion clearing and settlement system (CSM).

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Real Time Payment Market Players

Some of the prominent real time payment market companies are Volante Technologies, Inc., Wirecard AG, Mastercard Incorporated, Finastra, Montran Corporation, FIS, Inc., Temenos AG, Icon Solutions Ltd., Worldpay, LLC, ACI Worldwide, Inc., Nets A/S, Capgemini SE, Visa, Inc., Worldline, PayPal Holdings, Inc., and Fiserv, Inc.         

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