Real Time Payments Market: By Nature of Payment, Person-to-Business, Person-to-Person and Others), By Component, By Deployment Mode, By Enterprise Size and Large Enterprises), By End User, Energy & Utilities, Government, Healthcare, IT & Telecom, Retail & E-commerce, Travel & Tourism and Others) and Geography
Real Time Payments Market size was valued at 9.3 billion in 2023 and is poised to grow at a CAGR of 28.9% from 2024-2030. Some of the key factors fueling the market growth include high usage of smartphones, government initiatives are quickening the acceptance of real time payments solutions, rising volumes of cashless transactions, increasing focus of governments on developing their own RTP systems across each country, progressive changes in regulatory framework and growing use of real time payments across diverse industry verticals. However, growing market competition and lack of interoperability between schemes are the major factors hindering the market growth. Countries around the world are moving to real-time payments (RTP) as businesses and consumers are looking for ways to send and receive money in a more effective, secure and faster way to accomplish near-real-time exchange of funds. In some of these countries, faster payment networks are enabling transactions to clear in minutes or even seconds, supported by common standards and economic incentives to participate. The growing ubiquity of smart devices and booming online retail commerce in markets is driving the rapid adoption of real-time payments.
Study Period
2024-2030Base Year
2023CAGR
28.9%Largest Market
North AmericaFastest Growing Market
Asia-Pacific
The mass acceptance of real-time payment systems around the globe has contributed to an environment in which many merchants, consumers and financial institutions anticipate to be able to pay friends and customers, settle bills, and transfer money at the drop of a hat. While the concept of paying now is not a new one cash is an immediate payment transaction instrument after all the growth of real-time payment options has aided build a new standard among consumers. This new standard is motivating change for traditional payment type's checks, credit, debit, prepaid, and the like as consumers have generally come to expect faster settlement periods.
Asia Pacific accounted for larger revenue share in global real time payment market with considerable CAGR. The growth in this region is attributed to increasing usage of smartphones in emerging economies and favorable government initiatives related to digital transactions. Adoption of advanced technologies, economic developments and high investments by real time payments solution are other factors responsible for the market growth. China and India are the major contributors for the growth of the market in the region. North America held substantial market share during estimated period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
28.9% |
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By Nature of Payment |
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By Component |
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By Deployment Mode |
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By End User |
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The Real-Time Payments Market Size was valued at 9.3 billion in 2023
The Real-Time Payments Market Key players are SIA, Ripple, REPAY, PayPal, Nets, Visa, Mastercard, Intelligent Payments
American Express, Visa, Mastercard, PayPal
Key Market Players
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