Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Summary
The global Realtime Payments Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
Real-time payments for medical accounts are often needed for many reasons, and there are a number of different ways to make these payments. In order for these payments to go into effect quickly, the account holder must authorize the credit card company each month that the payments will be made. This process, which is called a "soft credit check" usually requires the customer to show their social security card or a pay stub. The global realtime payments market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global realtime payments market is expected to witness significant growth during the forecast period, owing to proactive government initiatives boosting the adoption of real time payment solutions.
Market Drivers
Rising proliferation of smartphones is expected to drive growth of the global realtime payments market during the forecast period. According to the Pew Research Center, smartphone ownership in the U.S. increased from 35% in 2011 to 81% in 2019. According to the report jointly released by Indian Cellular and Electronics Association, India’s smartphone base is expected to reach 820 million by 2022 with smartphone penetration in rural India increasing from 9% in 2015 to 25% in 2018. Such a massive increase in smartphone ownership has led to the adoption of realtime payment solutions. Real time payment solutions reduce fraud risk and boost consumer expenditure. Hence, such factors are expected to drive growth of the global realtime payments market during the forecast period. Furthermore, proactive government initiatives accelerating the adoption of realtime payment solutions are expected to propel growth of the global realtime payment solutions market over the forecast period.
Market Restraint
Lack of interoperability, especially in emerging economies is expected to restrain growth of the global realtime payments market during the forecast period.
Regional Insights
Among regions, Asia Pacific is expected to witness significant growth in the global realtime payments market during the forecast period. This is owing to increasing adoption of real time payment solutions by small and medium enterprises in the region. Furthermore, North America is expected to register a robust growth rate, owing to increasing number of cross-border disbursements in the region.
Competitive Section
Major companies involved in the global realtime payments market are FIS, ACI Worldwide, Temenos, REPAY, SIA, Fiserv, Apple, Visa, Wirecard, Mastercard, Capgemini, Icon Solutions, and Alipay.
For instance, in September 2020, FIS, a financial technology provider, partnered with The Caring House to bring real-time payment processing and settlement for small to mid-sized banks.
The Realtime Payments Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Realtime Payments Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- ACI Worldwide
- FIS
- Fiserv
- PayPal
- Wirecard
- Mastercard
- Worldline
- Temenos
- Visa
- Apple
- Alipay (Ant Financial)
- Global Payments
- Capegemini
- Icon Solutions
- REPAY
- IntegraPay
- SIA
- Obopay
- Ripple
- Pelican
- Finastra
- Nets
- FSS
- INTELLIGENT PAYMENTS
- Montran
By the Product Type, the market is primarily segmented into:
- Person-to-Person (P2P)
- Person-to-Business (P2B)
- Business-to-Person (B2P)
By Applications, the market is segmented into:
- BFSI
- IT and Telecommunications
- Retail and e-commerce
- Government
- Energy and Utilities
- Others
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Realtime Payments Market Report:
- To assess the size of the market by value and volume
- Analyze the Realtime Payments Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Realtime Payments Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Realtime Payments Market
The Realtime Payments Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Realtime Payments Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
