The global Real-Time Payments Market is forecast to reach USD 55.69 Billion by 2026, according to a new report by Reports and Data. Real-time payments help businesses trim their expenses by reducing the use of checks and other expensive payment methods. Real-time payment services enable companies to modernize their accounts receivable processes as they provide the information required to link invoices with payments in real-time.

The information provided by real-time payment services can reduce the efforts involved in investigating exceptions and checking the status of the payment, as these systems support two-way communications between payers and the payees. Faster payment systems are expected to relay more information than traditional methods allow. Real-time systems can be expected to provide valuable information that flows with the payment transactions, allowing businesses to attain abilities in straight-through processing, achieve a better view of cash flows, and enable more informed operational decision-making.

Key participants include

FIS, ACI Worldwide, Mastercard, Fiserv, PayPal, Worldline, Apple, Visa, INTELLIGENT PAYMENTS, Ant Financial, Wirecard, Temenos, Capgemini, Global Payments, SIA, IntegraPay, Ripple, Obopay, Finastra, Pelican, FSS, Nets, REPAY, Montran, and Icon Solutions, among others.

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Further key findings from the report suggest

Among the payment types, the customer-to-business (C2B) accounted for the largest market share of ~32% in the year 2018. The growing retail and e-commerce industry is a significant factor contributing to the growth. The penetration of the internet and smartphones will also drive the segment in the coming years. Moreover, the growing population and their increasing disposable incomes will increase the demand for digital commerce globally.

The peer-to-peer (P2P) is forecasted to witness the highest growth rate of 9% during the forecast period. The growing number of customers making payments through digital applications is contributing to growth. The popularity of UPI payments and the increasing number of companies in the market will further boost a wide acceptance of real-time digital payment services.

Among the payment modes, net banking accounted for the largest market share of ~27% in the year 2018. The growing acceptance of smartphones, the internet, and advanced technologies in the industry is a significant factor boosting the segment. Customers are aware of these technologies and find them convenient to go cashless.

The contactless payment segment is forecasted to witness a higher growth rate of 31.6% during the forecast period. The integration of RFID and NFC technologies in the market influences the segment growth. The popularity of smart cards is another factor driving the overall market.

Asia Pacific held the largest market share of ~31% in the year 2018. The region is rapidly adopting new and advanced technologies. High penetration of cloud technology, the internet of things, machine learning, artificial intelligence, and big data, among others, are propelling the market in the region. Moreover, the region is continuously investing in sustainable and green solutions, owing to the growing pollution.

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For this report, Reports and Data have segmented into the global Real-Time Payments market on the basis of resin type, composite phases, industry vertical, and region:

Payment Type Outlook (Revenue, USD Billion; 2016-2026)

Peer-to-Peer (P2P)

Customer-to-Business (C2B)

Business-to-Customer (B2C)

Business-to-Business (B2B)

Others

Payment Mode Outlook (Revenue, USD Billion; 2016-2026)

Contact Payment

Digital Currencies

Contactless Payment

Net Banking

Digital Wallets

Others

Deployment Mode Outlook (Revenue, USD Billion; 2016-2026)

Cloud

On-Premises

Organization Size Outlook (Revenue, USD Billion; 2016-2026)

Small and Medium-Sized Enterprise

Large Enterprises

Industry Vertical Outlook (Revenue, USD Billion; 2016-2026)

Media And Entertainment

Hospitality And Tourism

Retail And E-Commerce

IT And Telecommunication

Banking, Financial Services, And Insurance (BFSI)

Others

Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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