Real-Time Payments Market Size and Forecast 2024-2033|ACI Worldwide Inc., FIS Corporation, Fiserv Inc., Mastercard Inc., Visa Inc

Overview and Scope

Real-time payments refer to a digital infrastructure or cloud-based software available around the year that is used to send money electronically and securely through the internet at any moment and is used for different services such as bill payment, cash management, and peer-to-peer (P2P) money transfers to facilitate banking services.

Sizing and Forecast

The real-time payments market size has grown exponentially in recent years. It will grow from $27.76 billion in 2023 to $36.75 billion in 2024 at a compound annual growth rate (CAGR) of 32.4%. The growth in the historic period can be attributed to consumer demand for instant gratification, mobile and digital wallet adoption, globalization and cross-border transactions, regulatory initiatives, e-commerce growth.

The real-time payments market size is expected to see exponential growth in the next few years. It will grow to $119.21 billion in 2028 at a compound annual growth rate (CAGR) of 34.2%. The growth in the forecast period can be attributed to increasing demand for business efficiency, changing consumer behavior, enhanced security measures, increased financial inclusion initiatives, rise of central bank digital currencies (cbdcs).. Major trends in the forecast period include open banking and api integration, peer-to-peer (p2p) and social payments, blockchain and distributed ledger technology, real-time payroll and business payments, customer experience enhancement.

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Segmentation & Regional Insights

The real-time payments market covered in this report is segmented –

1) By Component: Solutions, Services

2) By Type: Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), Others (Business-to-Government (B2G), Government-to-Business (G2B), Business-to-Business (B2B), Person-to-Government (P2G), and Government-to-Person (G2P))

3) By Enterprise Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises

4) By Deployment: On-Premise, Cloud

5) By End Users: Retail and E-commerce, Government and Utilities, Healthcare, Telecom and IT, Travel and Hospitality, BFSI, Other End-Users

Asia-Pacific was the largest region in the real-time payments market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing penetration of smartphones is expected to propel the growth of the real-time payment market going forward. A smartphone is a portable electrical device that combines a computer with high-tech features that weren’t previously seen in telephones, such an operating system, web browsing, and the capacity to run software programs. The widespread usage of smartphones throughout the world facilitated real-time payment transactions, and smartphone payments became a convenient choice for users. For instance, in October 2021, according to The Economic Times, an Indian business newspaper, India has the highest monthly mobile data usage rate in the world (12 GB per person), and it adds 25 million new smartphone users every three months. Therefore, the increasing penetration of smartphones is driving the real-time payment market growth.

Key Industry Players

Major companies operating in the real-time payments market report are ACI Worldwide Inc., FIS Corporation, Fiserv Inc., Mastercard Inc., Visa Inc., Temenos AG, Wirecard AG, Capgemini SE, Finastra Limited, Montran Corporation Ltd., Ripple Labs Inc., PelicanFast, IntegraPay Pty Ltd., Worldpay Inc., Volante Technologies Inc., PayPal Holdings Inc., Square Inc., Stripe Inc., Worldline SA, Global Payments Inc., Adyen N. V., Ant Financial Services Group, Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Tencent Holdings Limited, Paytm (One97 Communications Ltd. ), PayU (Naspers Ltd. ), Dwolla Inc., TransferWise Ltd.

The real-time payments market report table of contents includes:

1. Executive Summary

2. Real-Time Payments Market Characteristics

3. Real-Time Payments Market Trends And Strategies

4. Real-Time Payments Market – Macro Economic Scenario

5. Global Real-Time Payments Market Size and Growth

26. South America Real-Time Payments Market

27. Brazil Real-Time Payments Market

28. Middle East Real-Time Payments Market

29. Africa Real-Time Payments Market

30. Real-Time Payments Market Competitive Landscape And Company Profiles

Top Major Players: