PUBLISHER: Allied Market Research | PRODUCT CODE: 1179749
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179749
A real-time payment (RTP) is a payment that is initiated and settled nearly instantaneously. A real-time payments rail is the digital infrastructure that facilitates real-time payments. Ideally, real-time payment networks provide 24x7x365 access, which means they are always online to process transfers. This includes weekends and holidays.
With evolving technologies, smartphones are increasingly available at reasonable prices and are becoming affordable for customers, which promotes growth of the real-time payment market. Furthermore, the widespread adoption of real-time payment channels among merchants, as well as the numerous benefits provided by real-time payments, drive market growth. These factors notably contribute to the growth of the global real-time payment market. However, risk in data breaches, security issues while conducting payments, and difficulties in the replacement process of point-of-sale (POS) terminal are some of the factors that hamper the market growth. On the contrary, payment industry is introducing a gradual shift toward a digital economy across several countries. In addition, rise in adoption of real-time payments across emerging economies and rapid digitalization in payments sector are expected to provide lucrative opportunities for the market growth in the coming years.
The real-time payment market is segmented into component, deployment mode, enterprise size, verticals and region. Based on component, it is segmented into solution and service. The solution segment is further segregated into payment gateway solution, payment processing solution, and payment security & fraud management solution. By payment method, it is sub segmented into cards, eWallet, automated clearing house (ACH), and others. The services segment is further divided into professional services and managed services. By deployment mode, the real-time payment market is segmented into on-premises and cloud. On the basis of enterprise size, it is segmented into large enterprises and small & medium-sized enterprises (SMEs). On the basis of verticals, the real-time payment market is segmented into BFSI, IT and telecommunications, retail and e-commerce, government, energy and utilities, and others Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the top real-time payment companies operating in the market, such as ACI Worldwide, Inc., Cognizant, FIS Inc., Financial Software & Systems Pvt. Ltd., Finastra, Fiserv, Inc., Mastercard, Inc., Microsoft Corporation, Mindgate Solutions Private Limited, Montran Corp., PayPal Holdings, Inc., TCS, Temenos AG, Visa Inc., Volante Technologies Inc., Sila, and Rapyd. These players have adopted various strategies to increase their market penetration and strengthen their position in the real-time payment industry,
Key Benefits For Stakeholders
By Component
By Deployment Mode
By Enterprise Size
By Industry Vertical
By Region