Global Faster Payment Service (FPS) Market Size Overview, Future Growth, industry demand, Opportunity, Regional Overview and Key Country Analysis 2030

Market Overview:
Faster Payment Service (FPS) Market Is Expected to Grow at A Significant Growth Rate, And the Forecast Period Is 2023-2030, Considering the Base Year As 2022.

Faster payments refer to payment methods that enable real-time or near-real-time fund availability to the recipient and are accessible round the clock in most supported payment systems worldwide. The Faster Payment Service (FPS) is an electronic payment system that facilitates inter-bank fund transfers and provides confirmation to both the sender and receiver within a minute. These payments are irreversible once completed, offering finality to the transaction. FPS is a convenient and secure payment mechanism that enables individuals and businesses to make digital payments for goods and services. It eliminates the need for cash transactions, reducing the risk of theft.

The report deeply explores the recent significant developments by the leading vendors:
ACI Worldwide (U.S.),FIS (U.S.),Fiserv Inc. (U.S.),wirecard (U.S.),Mastercard (U.S.),Temenos Headquarters SA (U.S.),Global Payments Inc. (U.S.),Capgemini (France),Icon Solutions Ltd (U.K.),M & A Ventures, LLC (U.S.),PAYRIX. (Australia),Nexi Payments SpA (Italy),Obopay (U.S.),Ripple (U.S.), and Other Major Players

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Market Dynamics:
Driver:
The increasing use of digital payments has been a key driver behind the growth of the Faster Payment Service (FPS) market. With the convenience and speed offered by digital payments, consumers and businesses are demanding faster and more efficient payment solutions. The rise of e-commerce and the popularity of peer-to-peer payments have further fueled the need for real-time payment systems like FPS. These factors have contributed to the expansion of the FPS market as more individuals and businesses seek instant and secure ways to transfer funds electronically.

Opportunity:
Information technology's role in fast payments provides a significant opportunity for the market. Advancements in technology, such as real-time processing, secure encryption, and mobile applications, have enabled the development of faster and more efficient payment systems. This opportunity allows businesses and financial institutions to offer enhanced customer experiences, streamline payment processes, and tap into the growing demand for instant payments. By leveraging IT capabilities, companies can innovate and stay competitive in the evolving landscape of fast payments, attracting a broader customer base and driving revenue growth. IT advancements enable seamless integration with other financial services, creating opportunities for partnerships and collaborations that further enhance the overall payment experience.

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Segmentation Analysis Of the Faster Payment Service (FPS) Market:
By Mode of Payment
• Single Immediate Payments
• Forward-Dated Payments
• Direct Corporate Access Payments
• Domestic P2P Payments
• P2M Payments
• B2B Payments
• Others
By Component
• Solutions
• Payment gateway
• Payment processing
• Payment Security
• Services
• Others

By Deployment
• Cloud
• On-Premises

By End Use Industry
• Retail and E-Commerce
• Banking, Financial Services, & Insurance (BFSI)
• IT & Telecom
• Travel & Tourism
• Others

Regional Analysis of Faster Payment Service (FPS) Market
Asia Pacific is Expected to Dominate the Market Over the Forecast Period.
The majority of people on the planet reside in rural and isolated areas. Digital literacy and connectivity are lacking among this group. Governments, aid agencies, and businesses now acknowledge the significance of financial services for a sizable population residing in rural and distant areas. As a result, more individuals have access to financial services.

By Regional Outlook
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key industry development:
• In November 2021, Fiserv has launched EnteractSM, a new, cloud-based customer relationship management (CRM) platform for financial institutions. Enteract features a Microsoft Azure-based integration framework that synchronizes customer data with back-end systems and enables real-time process integration across core banking, enterprise content management and digital channels.

• In December 2022, ACI Worldwide partners with BI-FAST to extend their payment services. ACI Worldwide has partnered up with Indonesia-based payment scheme BI-FAST to launch a new range of real-time payment services. BI-FAST has now a total of 106 participants, 19 of which use ACI Worldwide's payment solutions to connect to it. Following this partnership, BI-FAST's plans include expanding and interconnecting with other regional schemes, in order to create a real-time payments network for Indonesia

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Table Of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Mode of payment
 3.2 By Component
 3.3 By Deployment
 3.4 By End Use Industry

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

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Chapter 5: Faster Payment Service (FPS) Market by Mode of payment
 5.1 Faster Payment Service (FPS) Market Overview Snapshot and Growth Engine
 5.2 Faster Payment Service (FPS) Market Overview
 5.3 Single Immediate Payments
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2030F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Single Immediate Payments: Geographic Segmentation
 5.4 Forward-Dated Payments
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2030F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Forward-Dated Payments: Geographic Segmentation
 5.5 Direct Corporate Access Payments
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2030F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Direct Corporate Access Payments: Geographic Segmentation
 5.6 Domestic P2P Payments
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size (2016-2030F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Domestic P2P Payments: Geographic Segmentation
 5.7 P2M Payments
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size (2016-2030F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 P2M Payments: Geographic Segmentation
 5.8 B2B Payments
  5.8.1 Introduction and Market Overview
  5.8.2 Historic and Forecasted Market Size (2016-2030F)
  5.8.3 Key Market Trends, Growth Factors and Opportunities
  5.8.4 B2B Payments: Geographic Segmentation
 5.9 Others
  5.9.1 Introduction and Market Overview
  5.9.2 Historic and Forecasted Market Size (2016-2030F)
  5.9.3 Key Market Trends, Growth Factors and Opportunities
  5.9.4 Others: Geographic Segmentation

Chapter 6: Faster Payment Service (FPS) Market by Component
To Be Continued…

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