Home > Media & Technology > Next Generation Technologies > Fintech > Real-Time Payments Market

Real-Time Payments Market Size

  • Report ID: GMI7031
  • Published Date: Oct 2023
  • Report Format: PDF

Real-Time Payments Market Size

Real-Time Payments Market size was valued at USD 21.7 billion in 2023 and is estimated to register a CAGR of over 27.5% between 2024 and 2032. The Immediate Payment Service (IMPS) has significantly propelled market growth by enabling swift & secure transactions. Its ability to facilitate massive fund transfers instantly has revolutionized the financial landscape.


Real-Time Payments Market

To understand key trends  
Download Free Sample

According to the National Payments Corporation of India, IMPS Statistics, in September 2023, 472.90 million IMPS transactions occurred through which around USD 64.56 billion funds were transferred. IMPS offers unparalleled convenience, pushing businesses and individuals to adopt real-time payments. The seamless experience and rapid transactions provided by IMPS have played a pivotal role in shaping the modern payment ecosystem, fostering market growth & adoption.

The rising demand for real-time payments can be attributed to enhanced transparency and confidence in financial transactions. Real-time payment systems provide instant updates and confirmations, assuring users of the secure transfer of funds. This transparency instills confidence among businesses and consumers, encouraging them to embrace real-time payment methods. With real-time payments, the risk of errors and fraud is reduced significantly, reinforcing trust in the payment process. Improved transparency increases the popularity of the market.

The risk of security breaches poses a significant challenge to the growth of the real-time payments market. The high-speed nature of these transactions makes them potential targets for cybercriminals seeking unauthorized access, leading to data theft, financial fraud, and disruption of services. Security vulnerabilities, if exploited, could erode user trust, hinder adoption, and result in financial losses for consumers and businesses. It is necessary to ensure robust encryption, authentication measures, and continuous monitoring for potential threats to mitigate the risks and foster a secure environment for real-time payments.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of real-time payments reached USD 21.7 billion in 2023 and is set to witness over 27.5% CAGR from 2024 to 2032, led by the rising improvements in immediate payment service (IMPS) for swift & secure transactions.

The solution segment held more than 65% of the market share in 2023, owing to the ongoing integration of digital payment solutions to expedite financial transactions.

North America market accounted for 25% revenue share in 2023, due to the surging consumer demand for instant & convenient payment methods.

Some of the major real-time payment companies are ACI Worldwide, Inc., Finastra, FIS Inc., Fiserv, Inc., Mastercard, Inc., PayPal Holdings, Inc., and Visa Inc.

Real-Time Payments Market Scope

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 393
  • Countries covered: 22
  • Pages: 250
 Download Free Sample