Visa announced a partnership with PayPal and Venmo to pilot Visa+, an innovative service that aims to enable individuals to quickly and securely transfer funds between digital payment applications between person to person (P2P) is different. By the end of 2023, Venmo and PayPal users in the US will be able to start transferring money seamlessly between the two platforms.
CRED introduced UPI-based P2P payments, giving users a new payment option. This feature gives CRED members access to "pay anyone" through their contact list, phone number, or UPI login.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 5157
Published Date: Aug 11, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growing penetration of smartphones and increasing focus on technological advancement are some of the major factors anticipated to drive the growth of the real-time payments market.
The market is anticipated to attain a CAGR of ~31% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Fiserve Inc., Paypal Holdings Inc., Mastercard Inc., CRED, Visa Inc., Worldplay Inc., Volante Technologies Inc., and others.
The cloud segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in Asia Pacific is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.