The major players in the real-time payments market are ACI Worldwide, FIS Corporation, Fiserv Inc, Mastercard Inc, Visa Inc, Temenos AG, Wirecard AG, Capgemini SE, Finastra Limited, Montran Corporation Ltd, Ripple, PelicanFast, IntegraPay, Worldpay Inc , and Volante Technologies Inc.
New York, Sept. 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Real-Time Payments Global Market Report 2022” – https://www.reportlinker.com/p06318580/?utm_source=GNW
The global real-time payments market is expected to grow from $15.91 billion in 2021 to $21.41 billion in 2022 at a compound annual growth rate (CAGR) of 34.5%. The market is expected to reach $66.76 billion in 2026 at a CAGR of 32.9%.
The real-time payments market consists of the sale of real-time payments by entities (organizations, independent merchants and partnerships) which are used for different services such as bill payment, cash management and money transfers peer-to-peer (P2P). . Real-time payments refer to a year-round digital infrastructure or cloud-based software that is used to send money electronically and securely over the Internet at any time.
The major components of the real-time payments market are solutions and services. Services refer to non-physical and intangible parts of the economy instead of goods, which are touched or manipulated.
The different types include person-to-person (P2P), person-to-business (P2B), business-to-person, and others. Different business sizes include small and medium-sized businesses and large enterprises and involve multiple modes of deployment, such as cloud and on-premises.
The various end users involved are retail and e-commerce, government and utilities, healthcare, travel and hospitality, BFSI, etc.
Asia-Pacific was the largest region in the real-time payments market in 2021. North America is expected to be the fastest growing region during the forecast period.
Regions covered in the Real-Time Payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Real-Time Payments Market research report is part of a series of new reports that provide statistics on the Real-Time Payments market, including the global market size of the Real-Time Payments industry real-time payments, regional shares, competitors holding real-time payments market share, detailed real-time payments market segments, market trends and opportunities, and any other data you may need to thrive in the real-time payments industry. This Real-Time Payments Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The growing penetration of smartphones is expected to propel the real-time payment market growth in the future. , web browsing and the ability to run software.
The widespread use of smartphones around the world has facilitated real-time payment transactions, and smartphone payments have become a convenient choice for users. worldwide usage rate (12 GB per person), and it adds 25 million new smartphone users every three months.
Hence, the growing smartphone penetration is driving the real-time payment market.
Technological advancements have become a key trend gaining popularity in the real-time payments market. Major companies operating in the real-time payments industry are focusing on developing new technologies to strengthen their market position.
For example, in April 2022, IBM, a US-based technology company operating in the real-time payments market, launched a next-generation mainframe with artificial intelligence technology. The new IBM z16 processor can support deep learning-based fraud detection for all transactions.
In August 2019, Mastercard, a US-based financial services company, acquired a real-time payment unit from Nets Group for $3.2 billion. This acquisition activates the network infrastructure for real-time payments between bank accounts in Europe. Nets Group is a Denmark-based company that provides real-time payment services and related technology solutions.
The countries covered in the real-time payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea , the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06318580/?utm_source=GNW
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