The global real time payments market size is expected to grow from US$ 19.62 billion in 2023 to US$ 186.39 billion by 2031; it is anticipated to expand at a CAGR of 32.5% from 2025 to 2031. The increasing utilization of AI and IoT is likely to remain a key real time payments market trends.
The market growth can be attributed to the widespread use of smartphones and the adoption of cloud-based solutions for faster payment processing. The increasing availability and usage of smartphones have led to a higher demand for products and services that cater to mobile users.
Real Time Payments (RTP) is a cutting-edge financial system that enables businesses to conduct instant and seamless transactions. Unlike traditional payment methods, which often involve delays and manual processes, RTP allows for immediate transfer of funds, ensuring swift and efficient payment processing. With RTP, businesses can enjoy the benefits of instant settlements, eliminating the need for waiting periods and reducing the risk of delayed payments. This real-time capability empowers organizations to optimize their cash flow, enhance liquidity management, and improve overall financial performance. Furthermore, RTP offers enhanced security measures to protect businesses and their customers from fraudulent activities. The system utilizes advanced encryption techniques and authentication protocols, ensuring that each transaction is conducted securely and confidentially.
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The continuous growth of online shopping and e-commerce sales has been a significant driver for the development of the real-time payments market. The increasing popularity of mobile commerce and the convenience it offers are contributing to the growth of the market. The convenience of mobile shopping is a major factor driving the growth of mobile commerce. Three out of four consumers say they carry out purchases on their mobile devices because it saves time. However, there is still room for improvement, as 90% of shoppers believe their experiences with mobile commerce could be better. The share of mobile e-commerce sales in total e-commerce sales has been increasing. It is forecasted to reach a 60% market share in 2024, meaning that $3 out of every $5 spent on online purchases will be done through a mobile device.
The adoption of cloud-based solutions is driving the real-time payments market due to several key advantages. Cloud-based solutions offer scalability, flexibility, and cost-effectiveness, making them attractive options for businesses and financial institutions. Additionally, cloud-based solutions offer cost-effectiveness by providing a more cost-effective and scalable alternative to traditional on-premises solutions. Financial institutions can save costs by leveraging the scalability and flexibility of cloud-based solutions, allowing them to adapt to new market trends and customer demands more efficiently. Cloud-based solutions also enable financial institutions to innovate and adapt to changing demands. By leveraging cloud computing, banks can more easily put out new services and adapt to changing market conditions. This flexibility and scalability make cloud-based solutions helpful for driving innovation in payment systems.
Key segments that contributed to the derivation of the real time payments market analysis component, payments type, deployment mode, and end user.
The geographic scope of the real time payments market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. Asia Pacific dominated the real time payments market in 2023. The regional market is anticipated to experience rapid growth over the forecast period, with the highest compound annual growth rate (CAGR). The increasing adoption of real-time payment solutions by both large-scale and small- to medium-scale enterprises in the Asia Pacific region is predicted to propel the growth of the regional market. Numerous enterprises throughout the Asia Pacific are prioritizing the digitization of their business operations, which is expected to drive the demand for real-time payment solutions.
The real time payments market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: Mastercard, Press Release, 2021)
The "Real Time Payments Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 26 billion |
| Market Size by 2031 | US$ 186.39 billion |
| Global CAGR (2025 - 2031) | 32.5% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Component
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| Regions and Countries Covered | North America
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| Market leaders and key company profiles |
The advent of IoT, big data, and machine learning are impacting real-time payments, which are anticipated to play a significant role in the global real-time payments market in the coming years.
Rising adoption of smartphones and access to high-speed internet to drive the real-time payments market growth.
The key players holding majority shares in the global real-time payments market are ACI Worldwide; FIS; Fiserv, Inc.; and Mastercard.; Worldline S.A.