Scope of the Study
Real time payment is an alternative way to cash and check transactions and processes it in seconds. This type of payment improves efficiency, customer engagement, data transparency and accuracy. In addition to this, it provides 24/7 accessibility, streamlines the reconciliation processes and manages the risks. Real time payment provides control over cash flows to customers which benefits small businesses and consumers. It also provides an opportunity to the enterprise to shift to modern payment solution which supports multi-currency transaction and prevents them from fraud.
The market study is being classified by Type (Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P) and Others (Business-to-Government (B2G), Government-to-Business (G2B), Business-to-Business (B2B))) and major geographies with country level break-up.
ACI Worldwide (United States), FIS (United States), Fiserv (United States), MasterCard (United States), World line (France), PayPal (United States), Visa (United States), Apple (United States), Ant Financial (China) and Tmenos (Swtizerland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Wirecard (Germany), Global Payments (United States), Capgemini (France), IntegraPay (Australia), SIA (Italy), Obopay (India) and Ripple (US).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Real-Time Payments market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Real-Time Payments market by Type, Application and Region.
On the basis of geography, the market of Real-Time Payments has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Benefits Such as Faster Availability of Funds and Receipt, Convenience are fuelling the Market Growth
- Rising Need of Quick Clearance and Settlement of Money Transfer
- Increasing Adoption of Real-Time Payments in E Commerce, Retail Stores
- Cyber Security Concerns May Hamper the Market
- Growing Awareness of Cashless Transactions among People
- Collaboration of Service Providers with Regional Banks
- Interoperability Issues in Various RTP Networks
Market Leaders and their expansionary development strategies
On 9th May 2019, ACI worldwide has announced the acquisition of speedplay. This acquisition helps the company to expand its reach to consumer finance, insurance, healthcare, higher education utilities and government.
On 18th November 2019, HSBC has launched Real time payments on RTP network which enables the businesses to pay and get paid immediately.
Key Target AudienceReal time payment Service Providers, Government Regulatory Bodies, Government Research Organisations, Private Research Organisations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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