LAMEA Real-Time Payments Market By Component (Solution and Services), By Payment Type (Person-to-Business (P2B), Business-to-Business (B2B), Person-to-Person (P2P) and Others), By Deployment Type (On-premise and Cloud), By End User (Retail & E-commerce, Government & Utilities, Healthcare, Telecom & IT, Travel & Hospitality, BFSI and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Latin America, Middle East and Africa Real-Time Payments Market would witness market growth of 33.4% CAGR during the forecast period (2020-2026). Real-time payments provide flexibility to consumers and businesses in making and receiving payments, which is anticipated to fuel the growth of the market. With the help of real-time payments, businesses are empowered to reinforce their cash flows and eventually in enhancing their operational productivities, budgeting, and overall cash management. Therefore, businesses are increasingly adopting this payment mode, which is anticipated to fuel the growth of the market.
The real-time payments framework can significantly enhance the understanding of payments partners regarding disbursements and refunds as it was a constant problem for vendors and shoppers because it takes take some days to process and clear. Real-time payments solutions are majorly adopted by various ventures such as retail & internet business, BFSI, and IT & telecom, due to their benefits regarding speed, security, and transparency. Increasing demand for better analytics for payment associated information from traders and corporate clients is further fueling the growth of the market.
Though, security concerns regarding real-time payments are anticipated to hamper the market growth. Around the world, there is a high increase in payment frauds. On the other hand, the COVID-19 outbreak is expected to boost the growth of the market during the forecast years as people are more inclined towards contactless payment methods in order to contain the spread of COVID-19.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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).
Scope of the Study
Market Segments Covered in the Report:
- Payment Gateway
- Payment Processing
- Security & Fraud Management
By Payment Type
- Person-to-Business (P2B)
- Business-to-Business (B2B)
- Person-to-Person (P2P)
By Deployment Type
By End User
- Retail & E-commerce
- Government & Utilities
- Telecom & IT
- Travel & Hospitality
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ACI Worldwide, Inc.
- Fidelity Information Services (FIS), Inc.
- Fiserv, Inc.
- Mastercard, Inc.
- PayPal Holdings, Inc. (eBay)
- Visa, Inc.
- Apple, Inc.
- Temenos AG
- Capgemini SE
- Finastra Group Holdings Limited (Vista Equity Partners)
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