Global Real-Time Payments Market

Real-Time Payments Market Size, Share, Growth Analysis, By Payment method(Instant bank transfers, digital wallets, and mobile-based solutions), By End user(Individuals, businesses, and governments), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45D2079 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 63 |Figures: 75

Real-Time Payments Market Insights

Real-Time Payments Market size was valued at USD 17.57 billion in 2022 and is poised to grow from USD 23.81 billion in 2023 to USD 199.66 billion by 2030, at a CAGR of 35.5% during the forecast period (2023-2030).

The global real-time payments market is undergoing rapid growth, fueled by increasing digitalization, demand for instant financial transactions, and technological advancements.

With real-time payment systems becoming integral to the banking and finance sector, both consumers and businesses benefit from swift, secure, and convenient cross-border transactions, available 24/7. Mobile wallets, QR codes, and blockchain-based solutions further drive this evolution.

As the market expands, regulatory developments and interoperability challenges will shape its trajectory. Industry players are focusing on enhancing user experiences, ensuring cybersecurity, and establishing robust infrastructure to capitalize on the burgeoning demand for real-time payment solutions.

US Real-Time Payments Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 17.57 billion

Largest Segment

Individuals

Fastest Growth

Individuals

Growth Rate

35.5% CAGR

Global Real-Time Payments Market by region
Country Share for Asia Pacific (%)

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Real-Time Payments Market Segmental Analysis

The global real-time payments market can be segmented based on payment method, end-user, and region. Payment methods include instant bank transfers, digital wallets, and mobile-based solutions. End-users encompass individuals, businesses, and governments. Geographically, regions like North America, Europe, Asia-Pacific, and Rest of the World

Real-Time Payments Market Analysis By Payment Method

The largest payment method in the real-time payments market varies based on the region and the level of infrastructure development. Bank transfers and card-based payments are usually among the largest contributors due to their widespread use and integration with existing financial systems.

In terms of speed, true real-time systems like instant payment systems designed specifically for this purpose tend to be the fastest. Digital wallets and cryptocurrencies also offer fast transactions, but their speed can be influenced by network congestion and other factors.

Real-Time Payments Market Analysis By End User

The banking and financial services segment is typically one of the largest end-users of real-time payments due to the high volume of transactions that occur between financial institutions and across borders.

The e-commerce segment has been one of the fastest-growing segments, driven by the global shift toward online shopping. The need for quick, secure, and convenient payment methods has led e-commerce platforms to adopt real-time payment solutions.

Global Real-Time Payments Market by application, 2023 (%)

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Real-Time Payments Market Regional Insights

Asia-Pacific, particularly China and India, has been leading in terms of the largest market for real-time payments. The massive populations and rapidly growing digital economies in these countries have contributed to the extensive adoption of real-time payment systems.

The fastest-growing market for real-time payments has also been Asia-Pacific. The region's embrace of digital technologies and the proliferation of smartphones have played a pivotal role in the rapid adoption of real-time payment systems, making it a key driver of global growth in this sector.

Global Real-Time Payments Market by geography, 2024-2031
  • Largest
  • Fastest

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Real-Time Payments Market Dynamics

Real-Time Payments Market Drivers

Demand for Instant Transactions

  • The increasing demand for instant and convenient financial transactions, along with advancements in technology and digital infrastructure, is propelling the global real-time payments market's growth. This shift meets consumer expectations for speedy and seamless transactions, driving adoption across various industries.

Real-Time Payments Market Restraints

Security Threats

  • Security concerns and the need for robust fraud prevention mechanisms pose a significant challenge to the global real-time payments market. As transactions occur rapidly, there's a heightened risk of unauthorized access, data breaches, and fraudulent activities, necessitating substantial investments in cybersecurity to ensure safe and trustworthy transactions.

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Real-Time Payments Market Competitive Landscape

The global real-time payments market is fiercely competitive, with numerous players vying for supremacy. Established financial giants like PayPal, Visa, and Mastercard are expanding their real-time payment offerings to maintain dominance. Tech behemoths Apple, Google, and Amazon are also entering the fray with innovative solutions. Fintech startups such as Square and Stripe are disrupting traditional models with user-friendly interfaces. Additionally, blockchain-based systems like Ripple and Stellar are challenging norms. This cutthroat environment drives continuous innovation, pushing participants to enhance security, speed, and interoperability. As demand for instant, cross-border transactions grows, the market's competitive landscape remains dynamic and dynamic and intense.

Real-Time Payments Market Top Player’s Company Profiles

  • PayPal Holdings, Inc. - United States
  • Visa Inc. - United States
  • Mastercard Incorporated - United States
  • Square, Inc. - United States
  • Stripe, Inc. - United States
  • Ant Group (Alipay) - China
  • Tencent Holdings Limited (WeChat Pay) - China
  • American Express Company - United States
  • Fiserv, Inc. - United States
  • Worldpay, Inc. - United States
  • Adyen N.V. - Netherlands
  • Global Payments Inc. - United States
  • JPMorgan Chase & Co. (Chase Paymentech) - United States
  • Discover Financial Services - United States
  • PayU - Netherlands
  • Rakuten Group (Rakuten Pay) - Japan
  • Klarna - Sweden
  • WePay - United States
  • Addepar - United States
  • BlueSnap - United States

Real-Time Payments Market Recent Developments

  • In June 2022, ACI Worldwide announced its new mobile engagement platform ACI Smart Engage, enabling merchants worldwide to serve up their inventory of services and goods directly to consumers’ smartphones using voice, location, and image recognition technology, taking shopping-on-the-go to a new level.

Real-Time Payments Key Market Trends

  • In recent years, the global real-time payments market has witnessed significant advancements driven by technological innovation and shifting consumer preferences. The adoption of instant payment systems by governments and financial institutions has accelerated, promoting seamless cross-border transactions and enhancing financial inclusion. Mobile payment platforms and blockchain-based solutions have gained traction, ensuring swift and secure transfers. Moreover, the integration of Open Banking and Application Programming Interfaces (APIs) has enabled real-time payment initiation through various digital channels. These developments have transformed the payments landscape, fostering convenience, transparency, and efficiency for businesses and individuals alike.

Real-Time Payments Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, the future of the global real-time payments market appears promising, characterized by sustained growth driven by technological advancements, increased demand for instant and seamless transactions, and evolving consumer preferences. As digital infrastructure improves, mobile devices proliferate, and blockchain technology matures, the market is poised to expand across sectors like e-commerce, finance, and peer-to-peer transfers. Regulatory support and interoperability will play pivotal roles, ensuring secure and efficient cross-border transactions. However, challenges like standardization, cybersecurity, and competition could impact the trajectory. Overall, the real-time payments market is likely to thrive, revolutionizing global financial interactions and reshaping traditional payment paradigms.

Report Metric Details
Market size value in 2023 USD 17.57 billion
Market size value in 2031 USD 199.66 billion
Growth Rate 35.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Payment method
    • Instant bank transfers, digital wallets, and mobile-based solutions
  • End user
    • Individuals, businesses, and governments
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • PayPal Holdings, Inc. - United States
  • Visa Inc. - United States
  • Mastercard Incorporated - United States
  • Square, Inc. - United States
  • Stripe, Inc. - United States
  • Ant Group (Alipay) - China
  • Tencent Holdings Limited (WeChat Pay) - China
  • American Express Company - United States
  • Fiserv, Inc. - United States
  • Worldpay, Inc. - United States
  • Adyen N.V. - Netherlands
  • Global Payments Inc. - United States
  • JPMorgan Chase & Co. (Chase Paymentech) - United States
  • Discover Financial Services - United States
  • PayU - Netherlands
  • Rakuten Group (Rakuten Pay) - Japan
  • Klarna - Sweden
  • WePay - United States
  • Addepar - United States
  • BlueSnap - United States
Customization scope

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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Real-Time Payments Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Real-Time Payments Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Real-Time Payments Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Real-Time Payments Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Real-Time Payments Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Real-Time Payments Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Real-Time Payments Market size was valued at USD 17.57 billion in 2022 and is poised to grow from USD 23.81 billion in 2023 to USD 199.66 billion by 2030, at a CAGR of 35.5% during the forecast period (2023-2030).

The real-time payments market is fiercely competitive, with numerous players vying for supremacy. Established financial giants like PayPal, Visa, and Mastercard are expanding their real-time payment offerings to maintain dominance. Tech behemoths Apple, Google, and Amazon are also entering the fray with innovative solutions. Fintech startups such as Square and Stripe are disrupting traditional models with user-friendly interfaces. Additionally, blockchain-based systems like Ripple and Stellar are challenging norms. This cutthroat environment drives continuous innovation, pushing participants to enhance security, speed, and interoperability. As demand for instant, cross-border transactions grows, the market's competitive landscape remains dynamic and dynamic and intense. 'PayPal Holdings, Inc. - United States', 'Visa Inc. - United States', 'Mastercard Incorporated - United States', 'Square, Inc. - United States', 'Stripe, Inc. - United States', 'Ant Group (Alipay) - China', 'Tencent Holdings Limited (WeChat Pay) - China', 'American Express Company - United States', 'Fiserv, Inc. - United States', 'Worldpay, Inc. - United States', 'Adyen N.V. - Netherlands', 'Payments Inc. - United States', 'JPMorgan Chase & Co. (Chase Paymentech) - United States', 'Discover Financial Services - United States', 'PayU - Netherlands', 'Rakuten Group (Rakuten Pay) - Japan', 'Klarna - Sweden', 'WePay - United States', 'Addepar - United States', 'BlueSnap - United States'

The increasing demand for instant and convenient financial transactions, along with advancements in technology and digital infrastructure, is propelling the real-time payments market's growth. This shift meets consumer expectations for speedy and seamless transactions, driving adoption across various industries.

In recent years, the real-time payments market has witnessed significant advancements driven by technological innovation and shifting consumer preferences. The adoption of instant payment systems by governments and financial institutions has accelerated, promoting seamless cross-border transactions and enhancing financial inclusion. Mobile payment platforms and blockchain-based solutions have gained traction, ensuring swift and secure transfers. Moreover, the integration of Open Banking and Application Programming Interfaces (APIs) has enabled real-time payment initiation through various digital channels. These developments have transformed the payments landscape, fostering convenience, transparency, and efficiency for businesses and individuals alike.

Asia-Pacific, particularly China and India, has been leading in terms of the largest market for real-time payments. The massive populations and rapidly growing digital economies in these countries have contributed to the extensive adoption of real-time payment systems.

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