Real-Time Payments Market Size, Share & Trends Report

Real-Time Payments Market Size, Share & Trends Analysis Report By End-use Industry, By Nature of Payment (P2B, B2B, P2P), By Enterprise Size (Large, SME), By Component, By Deployment, And Segment Forecasts, 2019 - 2025

  • Published Date: Feb, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-059-0
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 101

Report Overview

The global Real-Time Payments (RTP) market size was valued at USD 6.90 billion in 2018 and is projected to expand at a CAGR of 29.3% from 2019 to 2025. RTPs are electronic/digital payment solutions that enable the real-time or immediate clearing of transactions and crediting of funds to the payee’s account and subsequent confirmation to the payer. Convenience along with faster availability of funds and receipt of money transfer offered by these systems are gaining popularity among end-users, as well as service providers.

U.S. real-time payments market

The market is majorly driven by the rising usage of smartphones across the globe and growing demand for immediacy and quick clearings and settlements of money transfers among consumers and merchants. Additionally, the rising adoption of RTP solutions among e-commerce retailers and retail store owners is estimated to bolster market growth. These solutions deliver benefits, such as faster transaction speed as compared to most other electronic methods, real-time messaging, extensive data exchange, and 24/7/365 availability to merchants and corporate businesses.

With such features, RTP solutions can help enterprises enhance their operational efficiencies, customer engagement, cash flow, and improve the transparency and accuracy of payment-related data. Moreover, RTP provides an opportunity for enterprises to shift from legacy systems to a modern payment infrastructure that can support multi-currency transaction processing, as well as provide fraud prevention solutions while reducing the overall processing time. Besides, governments from countries, such as India, U.K., and the U.S., are collaborating with multiple stakeholders including most of the government departments, state/central ministries, and banks to create an ecosystem promoting digital transactions.

Furthermore, rising volumes of cashless transactions (reached more than 500 billion in 2018), coupled with the growing consumer preference for systems like the net and mobile banking, will boost the market growth. The market is also likely to benefit from the growing popularity of FinTech services, such as Google Pay, Samsung Pay, and Apple Pay. Also, rising collaborations of these services/service providers with regional banks to bring innovations, such as the provision of quick loans and cashless payments, will drive the market further.

Increasing focus of governments on developing their own RTP systems across each country, such as Swish in Sweden, Faster Payments in the U.K., and FAST in Singapore, is estimated to augment market growth. However, rising cybersecurity concerns, coupled with the interoperability issues among different RTP network schemes such as The Clearing House (TCH) and Society for Worldwide Interbank Financial Telecommunications (SWIFT), is anticipated to hinder the growth of RTP market to a certain degree over the forecast period.

Nature of Payment Insights

The market is segmented into Person-to-Business (P2B), Business-to-Business (B2B), Person-to-Person (P2P), and others. The P2B segment accounted for the highest market share in 2018 on account of the growing volume of real-time digital transactions. Moreover, increased use of advanced systems for instant money transfer is anticipated to fuel the P2P segment growth over the forecast period.

Component Insights

Based on the component, the solutions segment held the highest market share in 2018. This is attributed to the increased consumer preference for digital transactions, which has led to new reforms and regulations that make it necessary for banks and organizations across several industries to adopt RTP gateway, instant payment processing solutions, and security and fraud management solutions. Furthermore, the growing demand for RTP implementation and integration services across numerous Small- and Medium-sized Enterprises (SMEs) is predicted to spur the growth of the services segment in the years to come.

Deployment Insights

Based on the deployment type, the global market is segmented into on-premises and cloud-based. The on-premises segment held the dominant market share of above 60% in 2018on account of high implementation of on-premise RTP solutions across large enterprises to procure and access data securely within their premises. However, wide usage of cloud and demand for Software-as-a-Service (SaaS) has grown remarkably over the past few years.

This can be attributed to the fact that cloud-based solutions have vast benefits, such as total cost reduction as against the use of internal data centers, faster implementation of solutions, and ease of accessibility. The trend is especially gaining pace in SMEs across developing countries and is anticipated to propel the growth of the cloud-based segment in the forecast period.

Enterprise Size Insights

Based on enterprise size, the market is bifurcated into large enterprises and SMEs. The large enterprise segment captured the highest market share in 2018 due to the significant adoption of RTP solutions across large technology firms, banks, and e-commerce retailers to reduce fraudulent activities while improving cash flow management and customer experience. Nevertheless, large companies are investing in new RTP start-ups across emerging economies, such as India, China, and Indonesia, to expand their regional presence and boost overall profitability.

For instance, in July 2018, Faircent, an India-based P2P payment lending start-up, raised approximately USD 4 Million from several investors including JM Financial, 3one4 Capital, and Muthoot Fincorp to strengthen its payment technology as well as regional presence. Moreover, an increasing number of e-commerce start-ups across the globe is likely to contribute to market growth by boosting the adoption of RTP solutions. This is predicted to drive the SMEs segment growth over the forecast period.

End-use Industry Insights

The retail and e-commerce end-user segment accounted for the highest market share in 2018 and is anticipated to witness a significant CAGR over the forecast period. A rise in demand for immediate transfer settlements from merchants and e-commerce retailers has also resulted in increased adoption of RTP solutions and related services in this segment. RTP solutions deliver a competitive edge to e-commerce and local retail businesses by providing them a more affordable and faster mode of transactions than the legacy systems.

Global real-time payments market

Besides, consumers are becoming more inclined toward online transactions and e-commerce owing to the variety of payment options and ease of product delivery offered by e-commerce retailers. This is also expected to drive the retail and e-commerce segment. The BFSI segment accounted for the second-largest share in the market in 2018 and is likely to expand at a promising CAGR over the forecast period. The segment growth is attributed to the increasing deployment of RTP Application Program Interfaces (APIs)across financial institutions and billing organizations.

Regional Insights

The APAC regional market held the largest market share in 2018 and is said to expand at the highest CAGR over the forecast period. This is attributed to factors, such as increasing usage of smartphones in emerging economies and favorable government initiatives related to digital transactions. Moreover, rising the number of e-commerce users along with the growing adoption of RTP systems across SMEs in emerging economies like India and China is expected to drive the growth further.

In 2017, the launch of the European Payment Council SEPA Credit Transfer (EPC SCT) Inst scheme – a pan-European instant payment scheme to deliver a common platform across all SEPA countries and territories – has increased the adoption of RTP solutions in key European countries like U.K. and Sweden. However, the market in Germany has been currently seen low volumes of transactions, owing to the non-migration so far of its largest banks in Deutsche and Commerzbank and the current lack of a domestic champion clearing and settlement mechanism (CSM).

Key Companies & Market Share Insights

Prominent companies in the market include ACI Worldwide, Inc.; Mastercard Incorporated; Finastra; Nets A/S; Worldline; Capgemini SE; Visa, Inc.; PayPal Holdings, Inc.; Fiserv, Inc.; Icon Solutions Ltd.; Temenos AG; FIS, Inc.; Montran Corporation; Worldpay, LLC; Wirecard AG; and Volante Technologies, Inc.

Most of these companies are focused on collaborations to deliver end-to-end RTP solutions, which helps these companies to enhance their regional presence and increase their solution offerings. For instance, in 2016, ACI Worldwide made a partnership with Vocalink to provide end-to-end solutions across the globe. This partnership combined ACI’s RTP solution for BFSI and Vocalink’s Immediate Payments System (IPS) delivering for central payment infrastructures.

Real-Time Payments Market Report Scope

Report Attribute


The market size value in 2020

USD 558.9 billion

The revenue forecast in 2025

USD 718.3 billion

Growth Rate

CAGR of 29.3% from 2019 to 2025

The base year for estimation


Historical data

2015 – 2017

Forecast period

2019 – 2025

Quantitative units

Revenue in USD billion and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Payment, component, deployment, enterprise size, end-use industry, region.

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Sweden; Denmark; Switzerland; China; India; Japan; Singapore; Brazil; Argentina

Key companies profiled

ACI Worldwide, Inc.; Mastercard Incorporated; Finastra; Nets A/S; Worldline; Capgemini SE; Visa, Inc.; PayPal Holdings, Inc.; Fiserv, Inc.; Icon Solutions Ltd.; Temenos AG; FIS, Inc.; Montran Corporation; Worldpay, LLC; Wirecard AG; and Volante Technologies, Inc.

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global real-time payments market report based on the nature of payment, component, deployment, enterprise size, end-use industry, and region:

  • Nature of Payment Outlook (Revenue, USD Million, 2015 - 2025)

    • P2B

    • B2B

    • P2P

    • Others

  • Component Outlook (Revenue, USD Million, 2015 - 2025)

    • Solutions

      • Payment Gateway

      • Payment Processing

      • Security & Fraud Management

    • Services

      • Advisory Services

      • Integration & Implementation Services

      • Managed Services

  • Deployment Outlook (Revenue, USD Million, 2015 - 2025)

    • On-Premises

    • Cloud-Based

  • Enterprise Size Outlook (Revenue, USD Million, 2015 - 2025)

    • Large Enterprises

    • Small & Medium Enterprises

  • End-Use Industry Outlook (Revenue, USD Million, 2015 - 2025)

    • Retail & E-Commerce

    • BFSI

    • IT & Telecom

    • Travel & Tourism

    • Healthcare

    • Government

    • Energy & Utilities

    • Others

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Sweden

      • Denmark

      • Switzerland

    • Asia Pacific

      • China

      • India

      • Japan

      • Singapore

    • South America

      • Brazil

      • Argentina

    • Middle East & Africa (MEA)

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