Radiant Insights
Retail and consumer goods industry held the largest market share in the past and is expected to register the maximum CAGR during the forecast years.

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.

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.

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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 retailersare 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.

For further inquiries, about – Real-Time Payments Market Analysis, Size, Growth, Trends and Forecast 2018, click on this link – https://www.radiantinsights.com/research/real-time-payments-market      

Further key findings from the study suggest:

• The Asia Pacific regional market accounted for the largest share in the past and is anticipated to witness the highest CAGR over the forecast period

• This growth can be attributed to the increasing number of new instant payment providers and government initiatives to promote digital payments

• Retail and consumer goods industry held the largest market share in the past and is expected to register the maximum CAGR during the forecast years

• This growth is mainly due to high demand for instant payment solutions from of large- and small-sized e-retailers and merchants

• Prominent companies in the market are Finastra; MasterCard, Inc.; Fidelity National Information Services, Inc. (FIS Inc.); Fiserv, Inc.; ACI Worldwide, Inc.; and Visa, Inc.

• These companies focus more on M&A to enhance product and services portfolios and expand regional presence

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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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