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    Real-time payments market will reach $277bn by 2032

    Fact.MR foresees that the demand for real-time payments is projected to expand at a CAGR of 33% in terms of value during the period of assessment. Moreover, the report estimates that the market for real-time payments is likely to surpass $277.09bn by end of 2032.

    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.

    Numerous fintech companies are making efforts to develop innovative solutions to ensure better security while making payments using bank cards and smart phones. Fintech companies are also striking partnerships with payment technology companies to improve their digital offerings and effectively meet the changing consumer demands.

    According to the study:

    • Global market to be valued at $16bn by 2022
    • P2B real-time payments to account for 63% revenue share through 2022
    • Real-time payment solutions to comprise three quarters of the global market demand through 2022
    • More than three out of five real-time payments to be deployed on-premise through 2032
    • Real-time payments for large enterprises to dominate, acquiring two thirds revenue
    • North America and Asia-Pacific to collectively yield 80% of the global market revenue

    As the transactional landscape acquires digital overtones, prominent end use industries are effectively leveraging the scope of real-time payment solutions to streamline financial operations, remarks a Fact.MR analyst.

    Demand analysis of real-time payments market outlook 2022-2032

    The demand for real-time payment solutions has particularly increased in the wake of the COVID-19 outbreak. A myriad of unexpected issues, such as payment systems that involve physical touch, have prompted merchants and consumers to consider contactless payment solutions, such as smartphone-based apps designed to make contactless and real-time payments.

    From 2015 to 2021, the global real-time payments market registered significant gains, reaching a valuation of $12bn in 2021. As per Fact.MR’s analysis, the market expanded at a robust CAGR of 30% across the 2015-2021 historical period.

    The incorporation of innovative technologies, such as Artificial Intelligence (AI) and IoT, in digital payment platforms, is also expected to contribute to the demand for real-time payment solutions. Considering these factors, the market is projected to witness high growth over the coming years, registering a CAGR of 33% to top $277.09bn by 2032.

    Competitive landscape

    The competitive landscape of the real-time payments market is shaped by product innovation and strategic mergers & acquisitions. Some prominent manufacturers of real-time payments are ACI Worldwide, Inc.; Mastercard Inc.; Finastra; Visa Inc.; PayPal Holdings, Inc.; Fiserv, Inc.; Fidelity National Information Services, Inc. (FIS Inc.); Wirecard AG; Worldpay; Temenos AG; Montran Corporation; and Volante Technologies Inc. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.

    In June 2021, Mastercard Incorporated announced the launch of PayPort+, a next-generation real-time payment gateway service, to provide payment service providers and financial institutions with flexible access to the UK’s real-time payment infrastructure. The PayPort+ solution is powered by Vocalink, a Mastercard company, and Form3, a technology partner.

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