The Asia Pacific Real-Time Payments Market would witness market growth of 32.9% CAGR during the forecast period (2020-2026). In developing countries, consumers, businesses, and governments are considering rapid payments as a way to acquire superior convenience and financial security, hence pushing the demand for the solutions.
The increasing number of smartphone users around the world and the rapid speed of transactions in comparison to other methods are boosting the market growth. The rising acceptance of the real-time payment solution among the retailers and retail shop owners is expected to propel the market growth over the forecast period. Although, cybersecurity concerns and the challenges confronted during fund transfer are some of the aspects that may negatively influence the market growth.
The market is majorly relied on the increasing usage of cell phones around the world and the emerging demand for rapid clearances and repayments of money transactions among vendors and buyers. Moreover, the increasing acceptance of real-time payment solutions by web-based business retailers and retail location owners are expected to boost the growth of the market. These solutions provide advantages such as rapid transaction speed in comparison with the majority of electronic techniques, real-time messaging, broad data transactions, and 24*7 accessibility to vendors and corporate organizations.
Further, increasing volumes of money less transactions, along with the emerging shopper preference for systems such as net and mobile banking, will contribute to the market growth. The market is expected to gain considerable gain due to the increasing popularity of FinTech administrations such as Samsung Pay, Google Pay, and Apple Pay. In addition, increasing combined efforts of these services/service organizations with regional banks to initiate developments, for instance, the provision of rapid advances and money less payments will further propel the market.
Based on Component, the market is segmented into Solution and Services. Solution segment is further bifurcated across Payment Gateway, Payment Processing and Security & Fraud Management. Based on Payment Type, the market is segmented into Person-to-Business (P2B), Business-to-Business (B2B), Person-to-Person (P2P) and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into Retail & E-commerce, Government & Utilities, Healthcare, Telecom & IT, Travel & Hospitality, BFSI and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Real-Time Payments Market in Asia Pacific is expected to register a CAGR of 32.9% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ACI Worldwide, Inc., Fidelity Information Services (FIS), Inc., Fiserv, Inc., Mastercard, Inc., PayPal Holdings, Inc. (eBay), Visa, Inc., Apple, Inc., Temenos AG, Capgemini SE, and Finastra Group Holdings Limited (Vista Equity Partners).
By Component
By Payment Type
By Deployment Type
By End User
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 