Instant Payments Market is predicted to reach USD 99.11 billion at a CAGR of 16.80% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Instant Payments Market”.

The Instant Payments Market is estimated to register a CAGR of 16.80% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Instant Payments Market— Vocalink, ACI Worldwide, FedNow, Riksbank, PayPal, Bank for International Settlements (BIS), Monetary Authority of Singapore (MAS), European Central Bank (ECB), PayNow, InstaPay.

Instant Payments Market Highlights

The global Instant Payments Market is accounted to register a CAGR of 16.80% during the forecast period and is estimated to reach USD 99.11 billion by 2032.

The widespread adoption of smartphones, high-speed internet, and cloud-based solutions has significantly improved the payment experience across various sectors such as BFSI, Retail, Manufacturing, Healthcare, etc., thereby driving the growth of the instant payment market.

Segment Analysis

The global Instant Payments Market has been segmented based on Type, and Application.

Based on the Type, the market is segmented into Charged Instant Payments and Free Instant Payments. The charged instant payments segment was attributed to holding the largest market share in 2022.  The increasing consumer preference for charge systems can be attributed to their user-friendly interfaces, extensive service offerings across various sectors, and robust customer support and security features. Looking ahead, there is a projected significant surge in the sales of charge-based instant payment systems. This anticipated growth is driven by the desire to enhance the overall end-user experience, ensure heightened security, and facilitate swift payments. Consequently, this surge in demand is expected to propel the sales of instant payment systems into new regions.

Based on the Application, the Instant Payments Market has been segmented into Business to Business (B2B), Business to Customer (B2C), Peer to Peer (P2P), Organization to Organization (O2O), and Customer to Customer (C2C). The peer-to-peer (P2P) segment was expected to hold the largest market share in 2022. The expansion of this segment is driven by its widespread adoption among small and medium enterprises, as well as the general public. Peer-to-peer transfers, involving the movement of funds from one's bank account to individuals such as family, friends, or retail outlets, significantly contribute to this growth. The prevalence of peer-to-peer transfers enhances the market's distribution channels, amplifying the utilization of instant payment platforms and ultimately boosting sales in the process.

Regional Analysis

The global Instant Payments Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The European Instant Payments Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Instant Payments Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Instant Payments Market comprises of Middle East, Africa, and Latin America.

The largest market share for the Instant Payments Market was maintained by the North American regional sector. Anticipated growth in the North American cross-border disbursement market is attributed to the rising immigrant population in countries like the U.S. and Canada. This surge is expected to contribute to an increased volume of cross-border transactions. Furthermore, the ongoing process of digitization and rapid economic development stands out as additional pivotal factors that are projected to drive market expansion in the North American region.

Moreover, the Europe market has been persistently growing over the forecast period. The rising prevalence of smartphones in numerous European countries is driving the expansion of the instant payment market in the region. According to GSMA Intelligence, as of the beginning of 2022, smartphone penetration in Finland stood at 169.5% of the total population. Similarly, in other European nations like Austria, Germany, Spain, and the United Kingdom, smartphone penetration rates were 138.8%, 141%, 119%, and 105% of the total population, respectively.

In Asia Pacific, the trajectory of real-time transaction growth in emerging nations, particularly with India at the forefront, is poised to redefine and surpass developments in developed economies. The United Payments Interface (UPI) has played a transformative role in altering how Indians conduct payments, enabling swift money transfers between bank accounts—be it from customers to businesses or among individuals. According to Mastercard's 2022 New Payments Index, Indian consumers exhibit the highest willingness in the Asia-Pacific region to embrace emerging cashless payment methods, with 93% having likely engaged in such transactions in the preceding year. Notably, India has emerged as a global leader in real-time payments for businesses, as per the CEBR. The country accounted for over 40% of all global real-time payments made in the previous year, with a staggering 48.6 billion transactions. This figure significantly surpassed China, which held the second position with 18.5 billion real-time transactions, highlighting India's remarkable standing in the realm of real-time payment volumes

Furthermore, the rest of the world's Instant Payments Market is divided into the Middle East, Africa, and Latin America. According to the Kaspersky Digital Payment survey, a significant 93% of consumers in the Middle East region have noted a rise in their utilization of digital payments and mobile banking during the COVID-19 pandemic. A study conducted by Checkout.com, a payment systems provider, in December 2020, surveyed over 5000 consumers across the UAE, Saudi Arabia, Egypt, Bahrain, Jordan, Qatar, Kuwait, and Pakistan. The findings revealed that 47% of consumers are inclined to increase their online shopping frequency in the coming year.

Key Findings of the Study

• The global Instant Payments Market is expected to reach USD 99.11 billion by 2032, at a CAGR of 16.80% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the growing adoption of real-time payment solutions by large-scale as well as small- & medium-scale enterprises.


• Based on type, the charged instant payments segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.


• Vocalink, ACI Worldwide, FedNow, Riksbank, PayPal, Bank for International Settlements (BIS), Monetary Authority of Singapore (MAS), European Central Bank (ECB), PayNow, InstaPay