Real Time Payments Market Size, Share, By Nature of Payment (Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), and Others), By Component (Solutions (Payment Gateway Solution, Payment Processing Solution, Payment Security, and Fraud Management Solution) and Services (Professional Services and Managed Services), By Deployment Models (On-premises and Cloud), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East, & Africa)-Market Trends, Analysis and Forecast till 2034

Real-Time Payments Market Size was valued at USD 25.5 billion in 2024 and is projected to grow at a CAGR of 35.6%to reach USD 402.6 billion by 2034.

Real-time payments, focusing on low-value retail payment systems (RPS), have gained interest from regulators, competition authorities, and payment service providers due to their potential to expand access to banking services, support economic growth, and reduce the use of cash and cheques. The global Real-Time Payment (RTP) ecosystem is rapidly growing, with over 70 countries supporting real-time payments, presenting a 63% year-on-year growth. The growing penetration of smart devices and booming online retail commerce are driving the adoption of real-time payments. The Fintech sector is focusing on advanced technologies and new business models, such as open API-enabled real-time payment systems using mobile applications. The COVID-19 pandemic has increased the use of digital payments globally, with over 40% of adults making in-store or online payments using a card, phone, or the internet since the pandemic began. However, real-time payments also pose a significant increase in fraud risk due to the irrevocable nature of transactions and the lack of recall capabilities.

Real-Time Payments Market Drivers:   

The Growing Smartphone Usage

• One of the main factors propelling the real-time payments market is the global proliferation of smartphones. With the growing popularity of peer-to-peer (P2P) payment apps and mobile wallets, smartphones offer a practical means of sending and receiving real-time payments.
• Demand for Instant Transactions: Businesses and consumers alike are calling for more rapid and practical payment options. This requirement is met by real-time payments, which do away with the waiting periods involved in conventional bank transfers and allow for instantaneous money transactions.
• Growth of E-commerce: Another important factor propelling the real-time payments market is the rapidly expanding E-commerce industry. Customers may pay for their online purchases easily and effectively with real-time payments, which enhances the e-commerce experience in general.

Government Initiatives

• Real-time payments are receiving more and more support from governments worldwide as they realize how they may increase financial inclusion and efficiency. The market is expanding even faster because to regulatory improvements that make real-time payments easier to implement usage of Cloud-Based Solutions: The real-time payments industry is being propelled by the increasing usage of cloud-based solutions. Because they are flexible, secure, and scalable, cloud-based platforms are perfect for handling real-time financial transactions.

Restrains in the Real-Time Payments Market:

Security Concerns

• When it comes to real-time payments, security is a top priority for financial institutions as well as consumers. If strong security measures are not in place, real-time payments' rapid processing times may leave them more susceptible to fraud.
• Lack of Interoperability: Although real-time payment solutions are becoming more commonplace worldwide, interoperability between various systems remains a barrier. This may restrict the applicability and ease of use of real-time payments, particularly for international transactions.

Key Opportunities in Real-Time Payments Market:

Value-Added Services

• In addition to real-time payments, there is an increasing chance to create and provide value-added services. To improve the user experience, this could involve integration with loyalty programs, fraud prevention systems, and real-time data analytics.

Open Banking and Embedded Payments

• The ability to easily incorporate real-time payments into a variety of apps and services is being made possible by open banking legislation. This may create new opportunities for creative payment methods.

Extension into New Markets

• Developing nations with sizable populations lacking access to banking services are especially well-positioned to witness substantial growth in the real-time payments sector. Companies who provide real-time payment systems that encourage financial inclusion can take advantage of this opportunity.

Cross-Border Payments:

• There is a great chance to expedite cross-border payments as real-time payment system interoperability advances. Companies can create products that make foreign transactions easier, faster, and less expensive.

Technological Developments

• New developments in artificial intelligence (AI) and biometrics can improve real-time payment security and convenience even more. Companies who take advantage of these developments can get a competitive advantage.

Real Time Payments Market report segments the market on the basis of nature of payment, component, deployment models and region.

By Nature of Payment Insight

• Person-to-person (P2P): This market is the biggest and expanding the quickest. It includes peer-to-peer (P2P) payment apps, mobile wallets, and other systems that let people send and receive money immediately. Services like Venmo, Zelle, and Cash App are a few examples.
• Person-to-Business (P2B): In this market, customers pay companies directly in real time. This can entail making donations, paying bills, or making online purchases of goods and services.
• Business-to-Person (B2P): This emerging market consists of companies paying people in real time. Payroll disbursements, reimbursements, and payments to gig or freelance workers are a few examples.
• Others: This group includes a broader variety of transactions, such as individuals to government (P2G), businesses to businesses (B2B), businesses to government (B2G), government to businesses (G2B), and government to persons (G2P).

By Component Insights

• Solutions: The growing demand for integrated digital payment solutions is the reason this sector has a greater market share. These are a few important categories of solutions:

• Payment Gateway Solution: This acts as a bridge between merchants, payment networks, and issuing banks. It securely transmits payment information and facilitates authorization for real-time transactions.
• Payment Processing Solution: This component manages the authorization, settlement, and clearing of real-time payments. It ensures smooth transaction flow and verifies the availability of funds on the payer's account.
• Payment Security and Fraud Management Solution: This component plays a crucial role in safeguarding real-time payments from fraud and cyber threats. It employs various techniques like data encryption, tokenization, and real-time fraud scoring to minimize risks.

• Services: For real-time payment systems, this section offers continuing support and upkeep. It falls into two other categories:

• Professional Services: These cover things like real-time payment consulting, system integration, and customisation. Companies can use this knowledge to develop and enhance their infrastructure for real-time payments.
• Managed Services: A third-party supplier is responsible for the continuous monitoring and upkeep of real-time payment systems. This keeps the infrastructure for real-time payments running smoothly while allowing businesses to concentrate on their primary business.

By Deployment Models Insights:

• On-premises deployment: In this strategy, companies use their own data centers to house and maintain all of the hardware and software necessary for their real-time payment infrastructure.
• Cloud deployment: Under this strategy, companies run their real-time payment infrastructure on a cloud-based platform that is provided by a third party supplier.  Through the internet, the company accesses and controls the system.

By Regions Insights:

On region the Real-Time Payments Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

• North America: With established players and high adoption rates, this region is regarded as a mature real-time payment market. Its expansion is facilitated by elements like robust government support and cutting-edge technology infrastructure.
• Europe: The real-time payment market in Europe is fragmented, with different nations adopting real-time payment systems at different rates. Nonetheless, efforts are in motion to establish a unified real-time payment system across Europe, suggesting bright future prospects.
• Asia Pacific: Because of factors including a sizable unbanked population, rising smartphone penetration, and government measures promoting financial inclusion, this area is anticipated to see the fastest development in the real-time payments market.
• Latin America: Despite being in its infancy, the region's real-time payments business has potential because of the expanding middle class, increased internet usage, and government assistance with electronic payments.
• Middle East & Africa: This region has a varied environment; some nations are adopting real-time payments quickly, while others are just getting started. Growth in this region is being driven by government efforts and the usage of mobile money.

Real-Time Payments Market Report Scope:

Attribute	Details
Market Size 2024	US$ 25.5 billion
Projected Market Size 2034	US$ 402.6 billion
CAGR Growth Rate	35.6%
Base year for estimation	2023
Forecast period	2024-2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Nature of Payment- Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), and Others By Component- Solutions (Payment Gateway Solution, Payment Processing Solution, Payment Security, and Fraud Management Solution) and Services (Professional Services and Managed Services) By Deployment Models - On-premises and Cloud
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Real-Time Payments Market report based on By Nature of Payment, By Component, By Deployment Models and Region:

Real-Time Payments Market, By Nature of Payment

• Person-to-Person (P2P)
• Person-to-Business (P2B)
• Business-to-Person (B2P)
• Others

Real-Time Payments Market, By Component

• Solutions-

• Payment Gateway Solution
• Payment Processing Solution
• Payment Security and Fraud Management Solution

• Services

• Professional Services
• Managed Services

Real-Time Payments Market, By Deployment Models:

• On-premises
• Cloud

Real-Time Payments Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the global Real-Time Payments market include Paymill GmbH, PayPal, Inc., PayU Group, Stripe, Inc., Skrill Ltd., Braintree Payment Solutions, LLC, GoCardless Ltd., FastSpring (Bright Market, LLC), Recurly, Inc., and Paytm Company.

• In APRIL 2023, order to test Visa+, a revolutionary service designed to facilitate safe and rapid transfers of funds between various person-to-person (P2P) digital payment apps, Visa announced a cooperation with PayPal and Venmo. Users in the US of Venmo and PayPal will be able to transfer money between the two services easily later in 2023.
• In APRIL 2023, CRED gave its users a new payment alternative when it launched its P2P payments based on UPI. Through their phone numbers, UPI IDs, or contact lists, CRED members can use this function to avail 'pay anyone'.

• Paymill GmbH
• PayPal, Inc.
• PayU Group
• Stripe, Inc.
• Skrill Ltd.
• Braintree Payment Solutions LLC
• GoCardless Ltd.
• FastSpring
• Recurly, Inc.
• Paytm Company

“*” marked represents similar segmentation in other categories in the respective section.

Research Objective and Assumption

• Preface
• Research Objectives
• Study Scope
• Years Considered for the study
• Assumptions
• Abbreviations

Research Methodology

• Research data
• Primary Data
  • Primary Interviews
  • Primary Breakdown
  • Key data from Primary Sources
  • Key Thickness Insights
• Secondary Data
  • Major Secondary Sources
  • Secondary Sources
• Market Estimation
• Top-Down Approach
  • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
• Bottom-Up Approach
  • Approach for estimating market share by Bottom-up Analysis (Demand Side)
• Market Breakdown and Data Triangulation
• Research Assumptions

Market Preview

• Executive Summary
• Key Findings
• By Distribution Channel- Spectacle stores, Online Store, and Other Distributions Channels.
  • Key Questions this Study Will Answer
  • Market Snippet, By Nature of Payment
  • Market Snippet, By Component
  • Market Snippet, By Deployment Models
  • Market Snippet, By Region
• Opportunity Map Analysis
• Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restrains
  • Market Opportunities
  • Market Trends
• DR Impact Analysis
• PEST Analysis
• Porter’s Five Forces Analysis
• Opportunity Orbit
• Market Investment Feasibility Index
• Macroeconomic Factor Analysis

Market Segmentation, By Nature of Payment, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Person-to-Person (P2P)
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Person-to-Business (P2B)
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Business-to-Person (B2P)
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Component, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Solutions
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Services
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By End-user, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• On-premises
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• cloud
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (US$ Bn), By Nature of Payment, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Deployment Models, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • U.S.
    • Canada
• Europe
  • Market Size and Forecast (US$ Bn), By Nature of Payment, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Deployment Models, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • France
    • Germany
    • Russia
    • Italy
    • Rest of Europe
• Asia Pacific
  • Market Size and Forecast (US$ Bn), By Nature of Payment, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Deployment Models, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Latin America
  • Market Size and Forecast (US$ Bn), By Nature of Payment, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Deployment Models, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America

• Middle East & Africa
  • Market Size and Forecast (US$ Bn), By Nature of Payment, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Deployment Models, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East

Competitive Landscape

• Heat Map Analysis
• Market Presence and Specificity Analysis

Company Profiles

• Paymill GmbH
• PayPal, Inc.
• PayU Group
• Stripe, Inc.
• Skrill Ltd.
• Braintree Payment Solutions
• LLC
• GoCardless Ltd.
• FastSpring
• Recurly, Inc.
• Paytm Company.

The Last Word

• Future Impact
• About Us
• Contact