The North America Real-Time Payments Market would witness market growth of 31.5% CAGR during the forecast period (2020-2026). Real-time payment is considered as an immediate, instant, quick payment and is capable of supporting retail, person to person, and mobile payments. Real-time payment systems provide an immediate interbank electronic fund transfer service that can be commenced with the help of several channels that involve smartphones, tablets, digital wallets, and the web. Real-time payments offer several advantages to financial institutions (FIs), merchants, consumers, and society by providing better visibility into payments, by facilitating better cash management, and by assisting businesses in managing operations by increasing liquidity.
Regulators around the world are putting efforts to accelerate payments. The Federal Reserve Bank and the National Automated Clearing House Association (NACHA) are putting joint efforts on a way to accelerate real-time payments in the US. In some developed economies, regulations are encouraging the growth of real-time payments. This can be beneficial to consumers as well the government, which can effectively trace activity and assist in expanding the fluidity of the overall economy.
Moreover, many small businesses and large retailers are considering real-time payment to improve their cash flow management, decrease fraud activity and offer incremental value to their customers. These factors will fuel the demand for real-time payments market during the forecast period.
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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Real-Time Payments Market in North America is expected to register a CAGR of 31.5% 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
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