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Real-Time Payments Market Worth $193.07 Billion By 2030: Grand View Research, Inc.SAN FRANCISCO, March 8, 2022 /PRNewswire/ -- The global real-time payments market size is expected to reach USD 193.07 billion by 2030, growing at a CAGR of 34.9% over the forecast period, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing digitization in the fintech sector and growing volumes of non-cash transactions. In addition, the increasing popularity of open API-enabled real-time payment systems in banks is also expected to contribute to market growth. For instance, as per a survey conducted by Finastra, a fintech firm, in 2020, 86% of global banks surveyed were planning to adopt open APIs to enable open banking capabilities by next year. Numerous fintech companies are making efforts to develop innovative solutions to ensure better security while making payments using bank cards and smartphones. Key Insights & Findings from the report:
Get Free Sample of this market research report, "Real-Time Payments Market Size, Share & Trends Analysis Report By Enterprise Size (Large, SME), By Payment Type (P2B, P2P), By End-use Industry, By Component, By Deployment, And Segment Forecasts, 2022 - 2030", published by Grand View Research. Real-Time Payments Market Growth & Trends Fintech companies are also striking partnerships with payment technology companies to improve their digital offerings and effectively meet the changing consumer demands. For instance, in November 2020, Payments Canada, an organization that operates the payment clearing and settlement system, and Mastercard, a payment technology company, announced their partnership to improve Canada's real-time payment solution. As part of this partnership, Payments Canada selected Mastercard's Vocalink as the clearing and settlement solution provider for the country's real-time payment system, the Real-Time Rail (RTR). The increasing adoption of technologies, such as facial recognition systems, for digital payments in the retail industry is expected to drive market growh. For instance, in June 2020, Panasonic Corporation of North America and PopID, a payment terminals solution provider, announced their partnership to provide facial recognition payment processes to the restaurant and retail industries. The outbreak of the COVID-19 pandemic is expected to accelerate the demand for real-time payment solutions. In an attempt to prevent the spread of the coronavirus, retailers and consumers are adopting contactless payment methods. The growing popularity of online shopping in the wake of the pandemic is also expected to propel market growth over the forecast period. Real-time Payments Market Segmentation Grand View Research has segmented the global real-time payments market on the basis of payment type, component, deployment, enterprise size, end-use industry, and region: Real-Time Payments Type Outlook (Revenue, USD Million, 2017 - 2030)
Real-Time Payments Component Outlook (Revenue, USD Million, 2017 - 2030)
Real-Time Payments Deployment Outlook (Revenue, USD Million, 2017 - 2030)
Real-Time Payments Enterprise Size Outlook (Revenue, USD Million, 2017 – 2030)
Real-Time Payments End-use Industry Outlook (Revenue, USD Million, 2017 - 2030)
Real-Time Payments Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players in Real-Time Payments Market
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Browse through Grand View Research's Next Generation Technologies Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg |