Global Instant Payment Market 2020-2025

November 16, 2020
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GLOBAL INSTANT PAYMENT MARKET

 

INTRODUCTION

Instant Payment market is a mode of exchanging money and processing payments; they immediately transfer money between the bank accounts. The adoption rate of instant payment is high, though this platform is currently under developed, across the globe. Instant payment market has become a market for customers and businesses, especially after the growth of e-commerce and changed the spending pattern of people.

 

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In 2017, Walmart started instant payments to its employees with the help of digital application. In 2018, Postmates partnered with Visa and introduced ‘Instant Deposits’, which basically enabled real-time payments to Postmates fleet across U.S.

Digital wallets are often confused with instant payments, however, the difference lies in the settlement time, where the former transfer funds in the next business day and the latter transfer within seconds or minutes.

 

MARKET DYNAMICS

Several companies are adopting Instant Payments, for example, AscendentFX Capital recently joined the SWIFT network’s Global Payment initiative to improve payment delivery and provide greater transparency for customers, Revolut has launched real-time payment service in Europe and Mastercard partnered with startup, Transferwise that will allow to issue Transferwise debit cards in any location where these two companies operate.

Government of countries like India, U.K. and the U.S are promoting digital transactions while collaborating with various stakeholders such as banks, state government and governmental departments.

Asia-Pacific is expected to hold largest market size of the RTP market due to the growth factors such as adoption of advanced technologies, economic developments, digitalization, high investment in RTP solution and service providers.

In 2018, the cashless transactions reached more than 500 billion as the growing demand of net and mobile banking. The Instant payment market has gained from the growing popularity of FinTech Services such as Google Pay, Samsung Pay, Apple Pay, etc.

Collaboration of the instant payment services with the regional banks are rising and bringing innovations in the market like provision of quick loans and cashless payments.

The growth can be hindered from the issues like cybersecurity concerns and interoperability issues among the RTP network schemes such as The Clearing House (TCH) and Society for Worldwide Interbank Financial Telecommunications (SWIFT).

 

MARKET SIZE AND FORECAST

The key drivers of this market are increasing usage of smartphones across the globe and growing demand of the quick money transfers in consumers and businesses.

There is high adoption among the e-commerce retailers and retail store owners as the solutions provided by RTP are helping them to enhance the operational efficiency, customer engagement, data accuracy and improved transparency.  

 

COMPETITIVE ANALYSIS

  1. Wirecard: It is one of the leading service provider in the online banking services. The company provides product and services like software enabled payment solutions and real time payment solutions to companies in the Instant Payment market. Wirecard followed strategies such as new product launches, partnerships, business expansion and acquisitions to keep a stable growth in the payment industry. For example, in 2018, the company partnered with SAP to launch Wirecard Extension for SAP Commerce.

 

Financials

Market Cap: Rs. 74.992 Million

Gross Sales: Euro 748 Million (Q2, 2020)

Total Income: Euro 146 Million (Q2, 2020)

 

  1. Mastercard: The company is a leading FinTech company and significantly investing in the real-time account payments, digital services, geographic expansion and data analytics. In

2016, the company acquired VocaLink Holdings Limited for $ 920 Million and this acquisition has helped the company to become active participant in the electronic payments. It has strengthened its product portfolio with new product launches such as Mastercard Track, a B2B Platform powered by Microsoft Azure.

 

Financials

Market Cap:  $ 294.48 Billion

Gross Sales: $ 3,335 Million (Q2, 2020)

Total Income: $ 1,420 (Q2, 2020)

 

  1. PayPal: The company is a technology platform and digital payment provider to the consumers and businesses. The payment solutions include PayPal Credit, Braintree, Xoom and Paydiant products. It allows to connect the financial institutions around the world and alow consumers to make purchases using a range of payment methods across cross-borders.

 

Financials

Market Cap: $ 210.97 Billion

Gross Sales: $ 4.38 Billion (Q2, 2020)

Total Income: $ 1.53 Billion (Q2, 2020)

 

CONCLUSION

The Instant payment market is growing constantly and Real-time payment is one of the leading services which is growing in the market. The key drivers are increasing smartphones, rising ecommerce industry and growing demand of efficient payment system.

Geographically, the Asia Pacific market is estimated to lead the market size and high growth in the forecasted period 2020-2025. Government in several countries are promoting digital payments and collaborating with various stakeholders. Risk of cybersecurity and interoperability issues are anticipated as the hindrance of the growth of the Instant Payment market for the period 2020-2025.

 

COMPANIES PROFILED

 

Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix

 

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