Real-Time Payments Market to Cross $86.89Bn by 2028, Growing at a CAGR of 13.7%; Industry Trends, Share, Size & Demand

The rise in eCommerce sales, internet usage, and technological advancements is driving demand for real-time payment market.

NEW YORK, UNITED STATES, February 1, 2023 /EINPresswire.com/ -- A new business report released by The Insight Partners with title "Real-Time Payments Market Size, Share, Industry Trends and Forecast to 2028-COVID-19 Impact and Global Analysis –by Delivery Mode, Learning Mode, and End User, “the market is expected to grow from US$ 12.85 billion in 2021 to US$ 86.89 billion by 2028 with an estimated CAGR of 32.0% from 2022 to 2028. Open Banking APIs are significant assets for financial services organizations because they allow them to expand service offerings, boost client interaction, and create new digital income channels, which would offer a significant opportunity for the real-time payment market to expand during the forecasted period. This business report covering the global market is an important document for every market enthusiast, policymaker, investor, and market player. The report provides CAGR value fluctuations for the market during the forecast period of 2022 to 2028. This market report provides data on patterns and improvements, target business sectors and materials, limits and advancements.

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Leading Players operating in the Global Real-Time Payments Market are:

• ACI Worldwide
• Apple
• FIS
• Fiserv
• Mastercard
• PayPal
• Temenos
• Visa
• Wirecard
• ….

The difference between physical and digital commerce is dissolving, and channels are converging increasingly. The in-store purchase experience has shifted significantly closer to the online one due to the strong emphasis on contactless payments during the COVID-19 pandemic. Also, before the pandemic, contactless payments were already well-established in a few regions. Touchless payments and/or biometric identification are prevalent in the online purchase experience. The contactless card is the most prevalent kind of touch-free payment. In the real-time payment market ecosystem, mobile payments, on the other hand, are gaining popularity due to easy use and the growing popularity of original equipment manufacturer (OEM) Pay solutions as a retail payment method. In a few countries, retailers and governments proactively request the customers to increase contactless payments and encourage retailers to make this possible, contributing to the real-time payment market growth. Furthermore, many banks have increased their contactless payment limits to reduce the need for a touchpad or cash at the point of sale, owing to the growth of the real-time payment market.

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Global Real-Time Payments Market report endows with the key information about the Real-Time Payments Market industry, including very important facts and figures, expert opinions, and the latest developments across the world. It also describes all the recent developments, product launches, joint ventures, mergers and acquisitions by several key players and brands that are driving the market with the systemic company profiles.

The rising demand of the diverse demands of customers, retailers, banks, telecom providers, and gadget suppliers is the primary reason for the growth of real-time payment market. It enables them to go to various locations, such as concerts, trade exhibits, and food trucks, where they may receive money from clients. This is accomplished by properly implementing real-time payment in the industry. Retailers may use real-time payment and associated software systems to improve and enhance consumer interaction, resulting in higher conversion rates and sales. Real-time payment deployments allow brick-and-mortar retailers to use pricing, product information, and inventory data, enabling for omnichannel engagement, which, in turn, is likely to gain momentum for the real-time payment market during the forecast period.

The Real-Time Payments Market report encompasses the general idea of the global Real-Time Payments market including definition, classifications, and applications. Further, it includes the all-inclusive comprehension of several factors such as drivers, constraints, and major micro markets. The report is a wide-ranging source of widespread facts and figures for business strategists as it offers the historical &futuristic data such as demand & supply data, cost, revenue, profit, supply chain value, and so on. Furthermore, it entails the key market features, comprising production, revenue, price, capacity, gross margin, market share, consumption, gross, production rate, demand/supply, cost, capacity utilization rate, export/import, and CAGR (compound annual growth rate). Apart from this, the researcher market analyst and experts present their outlook or insights of product sales, market share, and value along with the possible opportunities to grow or tap into in these regions.

Key Segmentation:

By Nature of Payment (P2P, P2B and B2P)

By Component (Solution, Services); Enterprise Size (Large Enterprises, SMEs)

Promising Regions & Countries Mentioned In The Real-Time Payments Report:
• North America ( United States)
• Europe ( Germany, France, UK)
• Asia-Pacific ( China, Japan, India)
• Latin America ( Brazil)
• The Middle East & Africa

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The rise in eCommerce sales, internet usage, and technological advancements is driving demand for real-time payment market. Furthermore, many companies operating in the real-time payment market are constantly adopting mergers & acquisitions strategies to develop their real-time payment portfolio.

For instance, in September 2020, as part of its Visa Issuing program, Novatti launched the Digital Payments Accelerator to support start-ups and innovators.

In addition, in November 2019, PayPal Holdings, Inc. acquired Honey Science Corporation for around US$ 4 billion in cash. Due to this transaction, PayPal's customers will have a better purchasing experience, while businesses will benefit from increased sales and client engagement. Such organic and inorganic growth strategies adopted by the players operating in the real-time payment market, will contribute to the growth of real-time payment market during the forecast period.

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Sameer Joshi
The Insight Partners
+91 96661 11581
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