Real-Time Payments Market Size Worth $39.02 Billion by 2025: Grand View Research, Inc.

Real-Time Payments Market Size Worth $39.02 Billion by 2025: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, April 2, 2019

SAN FRANCISCO, April 2, 2019 /PRNewswire/ -- The global real-time payments market size is estimated to reach at USD 39.02 billion by 2025 registering a CAGR of 29.3%, according to a new study by Grand View Research, Inc. Real-time payments are digital/electronic payments that allow the immediate transfer of funds in real time through a secured payment gateway. Growing e-commerce sector and adoption of smartphones coupled with the rising need for fast and convenient payment solutions in large and Small & Medium Enterprises (SMEs), are anticipated to fuel the RTP market expansion.

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Key suggestions from the report:

Read 101 page research report with TOC on "Real-Time Payments Market Size, Share & Trends Analysis Report By End-use Industry, By Nature of Payment (P2B, B2B, P2P), By Enterprise Size (Large, SME), By Component, By Deployment, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/real-time-payments-market

The real time payments infrastructure can significantly enhance the payments' stakeholders experience of disbursements and refunds – a frequent issue for merchants and consumers alike as card refunds generally take at least a few days to process and clear. Real-time payments solutions are being widely adopted across various industries, such as retail and e-commerce, BFSI, and IT & telecom, owing to their benefits in terms of speed, security, and transparency. Rising demand for advanced analytics for payment-related data from merchants and corporate users is also driving the market.

Moreover, availability of advanced online payment systems, such as Google Pay, Apple Pay, and Samsung Pay, and rising adoption of such solutions by large e-commerce retailers are expected to lead the market growth over the forecast period. Additionally, favorable government initiatives about digital payments across emerging economies, such as India, and China, are estimated to create significant opportunities for market entrants. The Asia Pacific market is anticipated to witness a significant expansion over the forecast period due to increasing e-commerce sales and adoption of smartphones.

Key companies in the market focus on M&A to enhance their product portfolios, expand geographical presence, and consumer base to deliver RTP solutions across various industries. For instance, in June 2016, MasterCard Inc. acquired VocaLink Holdings Ltd. (92.4% stakes) for a deal worth USD 920 million, which allowed MasterCard to strengthen its role in the U.K. payments ecosystem. However, growing cybersecurity concerns and lack of network interoperability among multiple payment-related schemes, such as Automated Clearing House (ACH) and Society for Worldwide Interbank Financial Telecommunications (SWIFT), could hamper the market growth.

Grand View Research has segmented the global real-time payments market on the basis of nature of payment, component, deployment, enterprise size, end-use industry, and region:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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