Real Time Payments Market: By Nature of Payment (Business-to-Person (B2P), Person-to-Business (P2B), Person-to-Person (P2P) and Others), By Component (Services and Solutions), By Deployment Mode (Cloud-Based and On-Premises), By Enterprise Size (Small and Medium-Sized Enterprises (SMEs) and Large Enterprises), By End User (Banking, Financial Services and Insurance (BFSI), Energy & Utilities, Government, Healthcare, IT & Telecom, Retail & E-commerce, Travel & Tourism and Others) and Geography  

Real Time Payments Market size was valued at 9.3 billion in 2022 and is poised to grow at a CAGR of 28.9% from 2023-29. Some of the key factors fueling the market growth include high usage of smartphones, government initiatives are quickening the acceptance of real time payments solutions, rising volumes of cashless transactions, increasing focus of governments on developing their own RTP systems across each country, progressive changes in regulatory framework and growing use of real time payments across diverse industry verticals. However, growing market competition and lack of interoperability between schemes are the major factors hindering the market growth. Countries around the world are moving to real-time payments (RTP) as businesses and consumers are looking for ways to send and receive money in a more effective, secure and faster way to accomplish near-real-time exchange of funds. In some of these countries, faster payment networks are enabling transactions to clear in minutes or even seconds, supported by common standards and economic incentives to participate. The growing ubiquity of smart devices and booming online retail commerce in markets is driving the rapid adoption of real-time payments. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global real time payment market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global real time payment market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Global real time payment market is surging owing to frequent acquisitions and launchings by the market players. For Instance, 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.