The global real-time payments market revenue was around US$ 21.2 billion in 2023 and is estimated to reach US$ 152.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 24.5% during the forecast period from 2024 to 2032.

Real-time payments are a completely electronic payment system in which irrevocable funds are transferred from one bank account to another. Real-time payments are appealing to consumers and businesses because they are faster, cheaper, more efficient, and potentially lower-risk means of transferring money compared to conventional methods.

Factors Influencing Market Growth

- Payment device flexibility, real-time transaction processing, decreased transaction time, and the rise in convenience are some of the major benefits provided by real-time payments, which drive the growth of the real-time payments market.

- The rise in usage of smartphones, the huge adoption of real-time payments among merchants, and faster connectivity have allowed customers and retailers to conduct real-time payments through their smartphones, driving the growth of the real-time payments market.

- The rise in data breaches and problems in the replacement procedure of point-of-sale (POS) terminals hinder the growth of the real-time payments market.

- The growth in initiatives and developments toward digitalized payments is expected to deliver a potential growth opportunity for the real-time payments market.

Impact of COVID-19

The impact of the COVID-19 pandemic had a significant influence on the global real-time payments industry, because of the rise in the adoption and usage of digitalized and online payment methods among consumers globally. Moreover, retailers and banks were responding to COVID-19 fears by expanding limitations on their real-time payment transactions so that higher-value payments could be made without the requirement to touch the terminal. This, in turn, has become one of the key growth factors for the real-time payments market during the global health crisis.

Regional Analysis

North America is the fastest-growing region in the global real-time payments market. This is attributed to the quick adoption of mobile wallets like Samsung Pay and Apple Pay have contributed to the development of real-time payments in North America. Also, the rise in the trend of contactless payment during the pandemic augmented the adoption of real-time payment methods like QR codes, near-field communication (NFC), and others.

Also, the convenience delivered by real-time payments, like faster check-out experiences and quick service at drive-throughs, cafes, and casual dining restaurants, as well as access to offers, coupons, and rewards in the payment experience, are primary growth factors for the market in the region.

Leading Companies

The leading prominent companies profiled in the global real-time payments market are:

- 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
- Rapyd
- Other prominent key players

Segmentation Outline

The global real-time payments market segmentation focuses on Component, Deployment Mode, Enterprise Size, Industry Vertical, and Region.

Segmentation based on Component

- Solution
- Services
- Professional Services
- Managed Services

Segmentation based on Deployment Mode

- On-premises
- Cloud

Segmentation based on Enterprise Size

- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)

Segmentation based on Industry Vertical

- BFSI
- IT and Telecommunications
- Retail and e-commerce
- Government
- Energy and Utilities
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa