$25+ Billion Real-Time Payments Market by Nature of Payment (P2P, P2B & B2P), Component (Solutions & Services), Deployment Mode, Enterprise Size, Vertical & Region - Global Forecast to 2023

DUBLIN, Nov. 22, 2018 /PRNewswire/ --

The "Real-Time Payments Market by Nature of Payment (P2P, P2B & B2P), Component (Solutions (Payment Gateway, Processing & Security, Fraud Management) & Services), Deployment Mode, Enterprise Size, Vertical & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The real time Payments market is expected to grow from USD 6.8 billion in 2018 to USD 25.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.6%.

The major growth factors expected to drive the growth of the real time payments market include the high proliferation of smartphones, adoption of cloud-based solutions, customers' demand for immediacy of payments and quicker payment settlements, and the government initiatives.

The services segment is expected to grow at a higher CAGR during forecast period

On the basis of components, the real time payments market has been classified into solutions and services, out of which the services segment is expected to grow at a higher CAGR during the forecast period. The utilization of real time payments solutions is growing; this has resulted in the increasing demand for real time payments services. The services segment has further been broken down into professional services and managed services. Among these segments, the managed services segment is expected to grow at a higher CAGR, whereas the professional services segment is expected to be a larger contributor to the market size. The increasing demand for real time payments solutions has resulted in the growing demand for professional and managed services.

The retail and eCommerce vertical is expected to have the largest market size and grow at the highest CAGR during the forecast period

The retail and eCommerce vertical is expected to have the largest market size and grow at the highest CAGR during the forecast period. The huge demand for instant payment settlements from retailers and merchants has led to the maximum adoption real time payments solutions and the associated services. Real time payments solutions provide a competitive edge to retail and eCommerce businesses by offering them a cheaper and faster mode of payment. Moreover, customers prefer online shopping due to the increasing integration of mobile devices in their shopping habits.

Asia Pacific (APAC) is expected to hold the largest market size and grow at the highest CAGR during the forecast period

On the basis of regions, the global real time payments market has been segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America. APAC is expected to hold the largest market size and grow at the highest CAGR during the forecast period. In the APAC region, the growth rate can be attributed to various factors, including the adoption of advanced technologies, economic developments, increasing rate of digitalization, and high investments by real time payments solution and service providers. The driving forces for the growth of the market in this region include 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.

Wirecard is a leading supplier of online banking payment services. It focuses on expanding its services and solutions portfolio in the emerging markets by introducing various strategies and developments in eCommerce. It combines the latest technologies with banking services and products to innovate new solutions that can improve the customer experience and reduce the security risks related to payment transactions. Wirecard provides a wide range of software-enabled payment solutions and helps companies implement real time payments strategies across all their sales channels.

Recent developments

• In August 2018, ACI Worldwide partnered with SPAN Enterprises, a cloud-based software company, to boost payments and enhance the customer experience in the transportation industry by deploying ACI's Official Payments, an IRS tax payment system.
• In September, Fiserv agreed to acquire Elan Financial Services, a unit of U.S. Bancorp. Elan Financial Services is a provider of debit card processing, ATM managed services, and MoneyPass surcharge-free ATM network. The acquisition would enable Fiserv to strengthen its presence in the arena of debit card processing and expand its mobile and digital payments offering for consumers and businesses.
• 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.

Critical questions the report answers

• Where will all these developments take the industry in the mid to long-term?
• What are the upcoming industry trends in the real time payments market?
• Which are the vendors operating in the market?
• What are the drivers and challenges of the market?

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Breakdown and Data Triangulation
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Real Time Payments Market
4.2 Top 3 Verticals
4.3 Top 3 Solutions and Verticals
4.4 Market By Vertical

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Proliferation of Smartphones
5.2.1.2 Customers Demand for Immediacy of Payments and Quicker Payment Settlements
5.2.1.3 Government Initiatives are Accelerating the Adoption of Real Time Payments Solutions
5.2.2 Restraints
5.2.2.1 Lack of Interoperability Between Schemes
5.2.2.2 Increasing Market Competition
5.2.3 Opportunities
5.2.3.1 Progressive Changes in Regulatory Framework
5.2.3.2 Increasing Use of Real Time Payments Across Different Industry Verticals
5.2.4 Challenges
5.2.4.1 Payment Security is Posing A Challenge for Banks
5.3 Use Cases
5.3.1 Use Case: Scenario 1
5.3.2 Use Case: Scenario 2
5.3.3 Use Case: Scenario 3
5.4 Payment System Evolution Overview
5.5 Standards and Regulatory Implications
5.5.1 Afinis Interoperability Standards
5.5.2 International Organization for Standardization 20022
5.5.3 General Data Protection Regulation
5.5.4 Payment Services Directive
5.6 Regulatory Financial Associations
5.6.1 Electronic Transactions Association
5.6.2 Consumer Financial Protection Bureau
5.6.3 European Automated Clearing House Association
5.6.4 Payment Card Industry Security Standards Council
5.6.5 Continuous Linked Settlement Group
5.6.6 R3CEV Blockchain Consortium
5.6.7 Global Payments Steering Group
5.6.8 Financial Blockchain Shenzhen Consortium
5.6.9 Blockchain Collaborative Consortium
5.6.10 Wall Street Blockchain Alliance

6 Real Time Payments Market, By Nature of Payment
6.1 Introduction
6.2 Person-to-Person
6.2.1 Increasing Demand for Immediacy of Payments and Quicker Settlements Drive the Adoption of the P2p Nature of Payment
6.3 Person-To-Business
6.3.1 High Proliferation of Smartphones and Connected Devices Accelerate the Adoption of the P2b Nature of Payment
6.4 Business-To-Person
6.4.1 Increase in Data Transparency and Enhanced Safety Boost the Growth of the B2p Nature of Payment
6.5 Others

7 Real Time Payments Market, By Component
7.1 Introduction
7.2 Solutions
7.2.1 Payment Gateway
7.2.1.1 Financial Institutes Demand Real Time Payments Gateway Solutions, as They Automatically and Securely Approve Transactions
7.2.2 Payment Processing
7.2.2.1 Real Time Payments Processing Solutions Enable Continuous Availability for Transactions
7.2.3 Payment Security and Fraud Management
7.2.3.1 Increasing Number of Financial Frauds in Online Transactions has Led to the Demand for Ai-Based Security and Fraud Management Solutions
7.3 Services
7.3.1 Professional Services
7.3.1.1 the Technicalities Involved in Implementing Real Time Payments Solutions Would Boost the Growth of Professional Services
7.3.2 Managed Services
7.3.2.1 With the Increasing Deployment of Real Time Payments Solutions, the Requirement for Managed Services Will Also Increase

8 Real Time Payments Market, By Deployment Mode
8.1 Introduction
8.2 On-Premises
8.2.1 Data-Sensitive Organizations Adopt the On-Premises Deployment Mode
8.3 Cloud
8.3.1 Scalability and Ease of Implementation Boost the Growth of the Cloud Deployment Mode

9 Real Time Payments Market By Enterprise Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.2.1 The SMES are Major Investments to Implement Real Time Payments
9.3 Large Enterprises
9.3.1 Faster Interactions, Cost Reduction, Business Expansion Capability, and Enhanced Security are Expected to Fuel the Adoption of the Real Time Payments Technology Among Large Enterprises

10 Real Time Payments Market, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Real-Time Payments has the Potential to Eventually Reduce Costs for Banks By Breaking Their Payment Silos
10.3 IT and Telecommunications
10.3.1 Real Time Payments Offers More Convenient and Faster Modes of Bill Payment, Leading to Enhanced Customer Experience
10.4 Retail and Ecommerce
10.4.1 Real Time Payments Provides A Competitive Edge to the Retail and Ecommerce Vendors By Offering Them With Faster Modes of Payment
10.5 Government
10.5.1 Governments Use Real Time Payments to Uplift Economies and Promote Cashless Transactions Across the Globe
10.6 Energy and Utilities
10.6.1 Real Time Payments Offers Online Billing Solutions and Real-Time Rating for Enhanced Customer Experience
10.7 Others

11 Real Time Payments Market, By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 Real Time Payments Systems Make Payments Simpler, Faster, and Secure
11.2.2 Canada
11.2.2.1 Canadian Individuals and Merchants are Adopting Real Time Payments Solutions to Encourage Customers for Making Instant Payments
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 Increasing Adoption of Omnichannel Real Time Payments Solutions Among Financial Institutions and Merchants
11.3.2 Sweden
11.3.2.1 As Real Time Payments is Gaining Popularity in Sweden, It Presents Growth Opportunities for the Real Time Payments Solution and Service Providers
11.3.3 Denmark
11.3.3.1 The Government of Denmark is Investing in Real Time Payments Systems to Make Payment Settlements Quicker
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.1.1 The Real Time Payments Market in Japan is Expected to Grow Due to the Upgradation in Instant Retail Payments
11.4.2 China
11.4.2.1 The Large Population Results in Many Real Time Payments Transactions
11.4.3 India
11.4.3.1 Government Initiatives and Demonetization are the Major Driving Factors for the Growing Real Time Payments Market
11.4.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 United Arab Emirates
11.5.1.1 Growing Digital Initiatives Would Offer Opportunities to Deploy Real Time Payments Solution in UAE
11.5.2 South Africa
11.5.2.1 Rise in the Adoption of Advanced Digital Technologies Would Provide Opportunities for Real Time Payments Services
11.5.3 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Rising Focus of Real Time Payments Solution Providers in Brazil Would Boost the Market Growth in the Coming Years
11.6.2 Mexico
11.6.2.1 The Revolution of Various Technologies in Mexico May Create A Demand for Real Time Payments Solutions in the Coming Years
11.6.3 Rest of Latin America

12 Competitive Landscape
12.1 Overview
12.2 Ranking of Key Players, 2018
12.3 Competitive Scenario
12.3.1 New Product/Service Launches and Product/Service Enhancements
12.3.2 Agreements and Partnerships
12.3.3 Acquisitions
12.3.4 Expansions

13 Company Profiles

• ACI Worldwide
• Alipay (Ant Financial)
• Apple
• Capegemini
• Finastra
• FIS
• Fiserv
• FSS
• Global Payments
• Icon Solutions
• IntegraPay
• Intelligent Payments
• Mastercard
• Montran
• Nets
• Obopay
• PayPal
• Pelican
• REPAY
• Ripple
• SIA
• Temenos
• Visa
• Wirecard
• Worldline

For more information about this report visit https://www.researchandmarkets.com/research/wkzz4l/25_billion?w=5

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