Pune, India -- (SBWIRE) -- 11/20/2018 -- The main objective of this report is to define, describe, and forecast the global "Real-Time Payments" market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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Growing adoption of real-time payments in the banks is driving the growth of real time payment market

Nowadays, the banks are more focusing to provide new payment platforms and solutions to fulfill the higher expectations from consumers. The growing adoption of real-time payments in the banks is driving the growth of real time payment market. The growing expectations of consumers to access everything in the real time is expected to contribute in the growth of real time payment market.  The Real-time payments deliver the high flexibility and superior services to the consumers. The Technological innovations in the domestic person-to-person (P2P) payment facilities are trending rapidly. The availability of social platforms, digital currencies and near-field-communication (NFC) based payments are having a positive impact on domestic payments. In addition, the updated regulation in addressing the online payments are likely to accelerate the growth of real-time payment market.

Mastercard Launches Real-Time Bill Payments via Banking Apps

In October 2018, Mastercard launched Mastercard Bill Pay Exchange a real-time bill payment and presentment service. This will give issuers the opportunity to recapture ground lost by consumers opting out of online and mobile bill-pay services in favor of visiting biller sites directly to pay their bills.

The Bill Pay Exchange leverages Mastercard's network of 135,000 billers and the real-time payment capabilities of Vocalink and The Clearing House (TCH) to provide the same direct-biller customer experience via issuer-branded mobile apps for banks that are already part of the Vocalink/TCH real-time payments system.

PayPal Real-time payments data fills credit gaps for banks

In November 2018, for years, banks have had to base lending decisions on credit scores, despite the fact that they don't paint a full picture of borrowers' liquidity. That's because liquidity is still mainly understood from an accounting perspective: current assets minus current liabilities.

Real-time payments analytics enable banks to fill in the blanks and transform lending in the process because they integrate real-time data about cash flow into the liquidity assessment.

By monitoring receivables and disbursements in real time, banks can track net cash, as well as where it's coming from and where it's going, and create a clearer portrait of the account holder's real-time financial health. Whether a potential borrower is more or less creditworthy or whether a business is sustainable can now be determined via instant, objective considerations — all thanks to real-time payments analytics.

Citizens Bank Will Launch Real-Time Payments for Commercial Accounts in 2019

In November 2018, Citizens Bank plans to phase in real-time payments for its commercial banking business starting in 2019. The bank, which is an owner bank of The Clearing House (TCH) has been a backer of real-time payments for three to four years, said Matt Richardson, head of product solutions in treasury management at the bank.

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Asia Pacific is the largest and the fastest growing region in the real-time payment market

Among the geographies, the Asia Pacific is the largest and the fastest growing region in the real-time payment market.  The high adoption rate of advanced technologies and increasing digitalization are driving the growth of real-time payments market in this region. In addition, high investments from real-time payments solution, growing aging population, rising disposable income are some factors that contribute to the growth of the real-time market in the Asia Pacific region. On the other side, North America is also focusing on the introduction of real-time payments across various industrial verticals. In the U.S., Fed, NACHA and The Clearing House are working collaboratively and independently to make faster payments a reality. The ongoing developments and technological advancement in real-time payments are projected to create various growth opportunities in this market across the North America region.

The major key players in Real-Time Payments Market are PayPal Holdings, Inc., Mastercard, Visa Inc., Apple Inc., Capgemini, Network for Electronic Transfers (Singapore) Pte Ltd, Financial Software & Systems Pvt. Ltd, FIS, ACI Worldwide, Inc., and Fiserv, Inc.

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