Global Faster Payment Service (FPS) Market Size to Reach USD 3,067 Million by 2030, At Growth Rate (CAGR) of 21.20%
The global market for Faster Payment Service (FPS), estimated at USD 543.5 million in 2022, is projected to reach USD 3,067 million by 2030, with a CAGR of 21.20% during the forecast period from 2022 to 2030.
FPS allows individuals and businesses to transfer money between bank accounts almost instantly. This enables faster settlement of payments, making it suitable for various purposes such as bill payments, salary transfers, online purchases, and peer-to-peer transactions. FPS is often integrated into online and mobile banking platforms offered by banks and financial institutions. Users can conveniently initiate and manage payments through these channels, providing greater flexibility and convenience.
Major Market Players
Key players in the global Faster Payment Service (FPS) market include ACI Worldwide, FIS, Fiserv Inc., wirecard, Mastercard, Temenos Headquarters SA, Global Payments Inc., Capgemini, Icon Solutions Ltd, M & A Ventures LLC, PAYRIX, Nexi Payments SpA, Obopay, and Ripple, among others. Recent developments include Fiserv launching the EnteractSM, a cloud-based customer relationship management platform, and ACI Worldwide partnering with BI-FAST to extend their real-time payment services in Indonesia.
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