Global Real Time Payments Market:
Global Real Time Payments Market valued approximately USD 6.50 billion in 2018 is anticipated to grow with a healthy growth rate of more than 30.01% over the forecast period 2019-2026.
The Real Time Payments Market is continuously growing in the global scenario at significant pace. Real-time payments are electronic retail payment solutions that provides services to the customers whenever needed. Real-time payments are also known as instant-payments or immediate payments.
Businesses and consumers around the globe are searching for effective, secure, and faster ways of accomplishing near-real-time exchange of funds, leading to the shift in use of real-time payments. Real-time payments ease the process of transactions such as sending and receiving money. The real-time transaction procedure follows certain steps which include initiation, validation, processing, transmission, clearance, and customer alerts.
Rising smartphones ownership, adoption of cloud-based solutions, favorable government initiatives to promoting the adoption of real time payments, rising customers demand for immediacy of payments and quicker payment settlements are the substantial driving factors of the market during the forecast period. Moreover, progressive changes in regulatory framework and booming ecommerce sector are the factors that likely to create numerous opportunities in the near future. However, security & privacy concern and lack of interoperability between schemes are the factors that limiting the growth of the market during the forecast period.
The regional analysis of Global Real Time Payments Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share due to increasing adoption of smartphones and increasing adoption of advanced technologies in the region. Europe is also estimated to grow at significant growth rate in the global Real Time Payments market over the upcoming years. Further, North America is anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026 due to increasing rate of digitalization and rising e-commerce penetration in the region.
The Major market player included in this report are:
ACI Worldwide
FIS
Fiserv
PayPal
Wirecard
Mastercard
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.
Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Nature of Payment:
Person-to-Person
Person-to-Business
Business-to-Person
Others
By Components:
Solution
Services
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By Enterprise Size:
Small and Medium-Sized Enterprises
Large Enterprises
By Vertical:
BFSI
IT and Telecommunication
Retail and E-commerce
Government
Energy and Utilities
By Deployment Mode:
On-premises
Cloud
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Real Time Payments Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers VARs
Third-party knowledge providers
Investment bankers
Investors
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