Press Release

Asia Pacific to register the highest CAGR in the Real Time Payment Market During the Forecast Period

Growing demand for immediate, quick clearing, settlements of money transfers among the population is expected to drive the growth of global Real Time Payment market.

According to TechSci Research report, Global Real Time Payment Market By Nature of Payment, By Component, By Deployment Mode, By End User, By Company, By Region, Competition, Forecast & Opportunities, 2024, the global Real Time Payment market is expected to grow at a robust CAGR of around 30% during the forecast period. Real Time Payment is witnessing adoption owing to the increasing adoption of net and mobile banking. Additionally, favorable government initiatives about digital payments across emerging economies further propels the market. Moreover, availability of advanced online payment systems, such as Google Pay, Apple Pay, and Samsung Pay, among others is fostering the growth of market. However, rising cybersecurity concerns and interoperability issues among different Real Time Payment network hampers the growth of market during forecast period. Additionally, operational risks involved are further restricting the market.

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The Global Real Time Payment market is segmented based on nature of payment, component, deployment mode, end user, company and region. Based on nature of payment, the market can be categorized into P2P, P2B, B2P. The P2B segment is expected to grow during the forecast period owing to the increased use of advanced systems for instant money transfer. Based on component, the market can be divided into solutions and services. The services segment is expected to grow during forecast period attributable to the growing demand for Real Time Payment implementation and integration services across numerous Small- and Medium-sized Enterprises. Based on end user, the market can be fragmented into BFSI, IT & telecommunication, retail & ecommerce, government, energy & utilities and others. The retail & e-commerce segment is expected to dominate the market during forecast period. This can be accredited to the rise in demand for immediate transfer settlements from merchants and e-commerce retailers. Additionally, Real Time Payment solutions deliver a competitive edge to e-commerce and local retail businesses by providing them a more affordable and faster mode of transactions.

ACI Worldwide, Inc., Mastercard Incorporated, Visa Inc., PayPal Holdings, Inc., Fiserv, Inc., Fidelity National Information Services, Inc. (FIS Inc.), Wirecard AG, Worldpay, Inc., Montran Corporation, Volante Technologies Inc. and others are some of the leading players operating in global Real Time Payment market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, In June 2018, PayPal acquired Simility, a leading fraud prevention and risk management platform, for USD 120 million. Paypal aims at expanding its fraud prevention and risk management portfolio for merchants, following this acquisition.

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Asia Pacific is expected to be the fastest growing market for Real Time Payment during the forecast period, owing to the adoption of advanced technologies, economic developments, increasing rate of digitalization, and high investments by Real Time Payment solution and service providers in this region. Additionally, the huge population in this region that contributes to the volume of transactions, and the domestic and international enterprises that are investing in this region. Moreover, rising the number of e-commerce users along with the growing adoption of Real Time Payment systems across SMEs in emerging economies like India and China is further propelling the growth of market in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Real Time Payment Market By Nature of Payment, By Component, By Deployment Mode, By End User, By Company, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of global Real Time Payment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global Real Time Payment market.

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