Global Real-Time Payments Market 2018-2023: Analysis & Forecast by Nature of Payment, Component, Deployment Mode, Enterprise Size, Vertical & Region - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 22, 2018--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 global RTP market size to grow from USD 6.8 billion in 2018 to USD 25.9 billion by 2023, at a CAGR of 30.6% during the forecast period.
The major growth factors expected to drive the growth of the RTP market include the high proliferation of smartphones, adoption of cloud-based solutions, customers’ demand for the immediacy of payments and quicker payment settlements, and the government initiatives. The lack of interoperability between schemes and the increasing market competition are expected to restrain the adoption of RTP solutions in the emerging economies, which in turn, may restrain the market from growing. The Person-to-Person (P2P) nature of payment is estimated to grow at the highest CAGR during the forecast period The RTP market by nature of payment has been segmented into Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), and others (Business-to-Business (B2B), Government-to-Business (G2B), Business-to-Government (B2G), Person-to-Government (P2G), and Government-to-Person (G2P)). The P2P nature of payment is expected to grow at the highest CAGR, as it is used by consumers for different use cases, including repayment of a movie ticket to a friend, repayment of money to a friend, and gifting money to a child or a grandchild.
Among regions, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
APAC has distinctively been one of the fastest-growing markets in terms of rapidly adopting RTP solutions. The RTP market is also termed as the next big boom with regards to the ever-increasing adoptions across the APAC region. The RTP market in APAC has gained traction, due to the rising demand for quick, hassle-free, and secured payment systems.
Moreover, the rapid growth of the RTP market in the region can be attributed to the active online engagement of consumers in the emerging countries of the region. The extensive facilities to deploy and manage RTP solutions at a low cost of ownership is boosting the market growth in this region. Furthermore, various international and domestic enterprises located in this region are partnering with RTP providers to enhance and provide tailormade offerings to local clients. The developed APAC countries, such as Australia, Japan, Singapore, and New Zealand, have expansively considered the use of RTP solutions and services.
This growth of this region can be attributed to the increased demand for RTP solutions and advancements in digital technologies, benefitting all stakeholders present in the RTP ecosystem in the APAC region. The increase in the number of mobile subscribers and feasible RTP solutions provided by banks, financial institutions, and payment agents are the additional factors contributing to the growth of the RTP market in APAC.
China and India are among the key countries considered for the RTP market analysis in this region. Additionally, the rapid expansion of domestic as well as global enterprises in the APAC region is also one of the important factors that are influencing the growth of the RTP market.
Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview and Industry Trends 6 Real Time Payments Market, By Nature of Payment 7 Real Time Payments Market, By Component 8 Real Time Payments Market, By Deployment Mode 9 Real Time Payments Market By Enterprise Size 10 Real Time Payments Market, By Vertical 11 Real Time Payments Market, By Region 12 Competitive Landscape 13 Company ProfilesACI 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/5q74s6/global_realtime?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181122005303/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: ONLINE RETAIL PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/22/2018 11:17 AM/DISC: 11/22/2018 11:17 AM