Real-Time Payments Market Size Is Poised To Reach $193.08 Billion By 2030: Grand View Research Inc.
The global real-time payments market size is expected to reach USD 193.08 billion by 2030 , growing at a CAGR of 35.5% from 2023 to 2030 , according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing digitization in the fintech sector and growing volumes of non-cash transactions. In addition, the increasing popularity of open API-enabled real-time payment systems in banks is also expected to contribute to market growth. For instance, as per a survey conducted by Finastra, a fintech firm, in 2020, 86% of global banks surveyed were planning to adopt open APIs to enable open banking capabilities by next year. Numerous fintech companies are making efforts to develop innovative solutions to ensure better security while making payments using bank cards and smartphones. Fintech companies are also striking partnerships with payment technology companies to improve their digital offerings and effectively meet the changing consumer demands. Fo