Singapore SG: Money Market Rate: Foreign Currency data was reported at 0.250 % pa in 2013. This records a decrease from the previous number of 0.424 % pa for 2012. Singapore SG: Money Market Rate: Foreign Currency data is updated yearly, averaging 5.262 % pa from Dec 1983 (Median) to 2013, with 31 observations. The data reached an all-time high of 10.803 % pa in 1984 and a record low of 0.250 % pa in 2013. Singapore SG: Money Market Rate: Foreign Currency data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Singapore – Table SG.IMF.IFS: Money Market and Policy Rates: Annual.

Singapore SG: Money Market Rate data was reported at 0.861 % pa in 2017. This records an increase from the previous number of 0.460 % pa for 2016. Singapore SG: Money Market Rate data is updated yearly, averaging 3.443 % pa from Dec 1972 (Median) to 2017, with 46 observations. The data reached an all-time high of 11.690 % pa in 1973 and a record low of 0.070 % pa in 2013. Singapore SG: Money Market Rate data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Singapore – Table SG.IMF.IFS: Money Market and Policy Rates: Annual.

Singapore SG: Central Bank Policy Rate: End of Period data was reported at 2.150 % pa in 2017. This records an increase from the previous number of 1.170 % pa for 2016. Singapore SG: Central Bank Policy Rate: End of Period data is updated yearly, averaging 1.130 % pa from Dec 1987 (Median) to 2017, with 31 observations. The data reached an all-time high of 5.380 % pa in 1988 and a record low of 0.180 % pa in 2012. Singapore SG: Central Bank Policy Rate: End of Period data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Singapore – Table SG.IMF.IFS: Money Market and Policy Rates: Annual.

The benchmark interest rate in Singapore was last recorded at 1.78 percent. This dataset provides the latest reported value for - Singapore Average Overnight Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Singapore Long Term Interest Rate

• Singapore Government Securities: Yield: Month End: 10 Years was reported at 2.74 % pa in Feb 2025, compared with 2.92 % pa in the previous month.
• Singapore Long Term Interest Rate data is updated monthly, available from Jun 1998 to Feb 2025.
• The data reached an all-time high of 5.69 % pa in Aug 1998 and a record low of 0.81 % pa in Oct 2020.
• Long Term Interest Rate is reported by reported by Monetary Authority of Singapore.

• In the latest reports, Singapore SIBOR: SGD: Month End: 3 Months was reported at 3.30 % pa in Nov 2024.
• The cash rate (Policy Rate: Month Avg: Singapore: Overnight Rate) was set at 4.00 % pa in Jun 2023.
• Singapore Exchange Rate against USD averaged 1.35 (USD/SGD) in Jun 2023.

In May 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 20 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in May 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Amounts outstanding of debt securities issued in international markets by residents of Singapore of private other financial institutions (nationality of All countries excluding residents of all issuers), all currencies, Total all currencies, original maturity of total (all maturities), remaining maturity of total (all maturities), all interest rates

A graphic that displays the dollar performance against other currencies reveals that economic developments had mixed results on currency exchanges. The third quarter of 2023 marked a period of disinflation in the euro area, while China's projected growth was projected to go up. The United States economy was said to have a relatively strong performance in Q3 2023, although growing capital market interest rate and the resumption of student loan repayments might dampen this growth at the end of 2023. A relatively weak Japanese yen Q3 2023 saw pressure from investors towards Japanese authorities on how they would respond to the situation surrounding the Japanese yen. The USD/JPY rate was close to ***, whereas analysts suspected it should be around ** given the country's purchase power parity. The main reason for this disparity is said to be the differences in central bank interest rates between the United States, the euro area, and Japan. Any future aggressive changes from, especially the U.S. Fed might lower those differences. Financial markets responded somewhat disappoint when Japan did not announce major plans to tackle the situation. Potential rent decreases in 2024 Central bank rates peak in 2023, although it is expected that some of these will decline in early 2024. That said, analysts expect overall policies will remain restrictive. For example, the Bank of England's interest rate remained unchanged at **** percent in Q3 2023. It is believed the United Kingdom's central bank will ease its interest rate in 2024 but less than either the U.S. Fed or the European Central Bank. This should be a positive development for the pound compared to either the euro or the dollar.

As of September 11, 2024, the largest company in Singapore is the DBS Group, with a market capitalization of ***** billion Singapore dollars. The largest three companies in Singapore by market capitalization were two of its largest banks, followed by consumer internet company Sea Limited. DBS, OCBC, and UOB - stalwarts of Singapore’s financial sector Singapore’s three largest banking groups – DBS Group, OCBC, and UOB, are seen as stable stock market investments. They routinely make up the top three leading companies by market capitalization and rank consistently among the most valuable brands in Singapore. Despite the global economic turmoil, these three banks were forecast to turn profits in 2023, being among the biggest beneficiaries of rising interest rates in the Asia-Pacific region. Singapore is a leading financial hub in the Asia-Pacific region, and its financial sector makes up the third-largest sector of its economy. Sea Limited and Grab - volatility of tech companies in the stock market Among the largest companies in Singapore are two of its biggest tech companies, Sea Limited and Grab Holdings. Sea Limited operates the e-commerce marketplace Shopee and online gaming company Garena, while Grab Holdings is a super-app that provides ride-hailing, food delivery, and digital payment services. Despite the popularity of their services, both companies have faced a turbulent year, with Grab Holdings seeing their share prices drop during the first day of trading. Once valued more than DBS, OCBC, and UOB combined, Sea Limited saw its valuation drop in 2022 amidst net losses of around *** billion U.S. dollars in 2021.

SG：货币市场利率在12-01-2017达0.861年利率%，相较于12-01-2016的0.460年利率%有所增长。SG：货币市场利率数据按年更新，12-01-1972至12-01-2017期间平均值为3.443年利率%，共46份观测结果。该数据的历史最高值出现于12-01-1973，达11.690年利率%，而历史最低值则出现于12-01-2013，为0.070年利率%。CEIC提供的SG：货币市场利率数据处于定期更新的状态，数据来源于International Monetary Fund，数据归类于Global Database的新加坡 – 表 SG.国际货币基金组织.国际金融统计：货币市场和价格政策利率：年度。

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Real Time Payments Market Size 2025-2029

The real time payments market size is forecast to increase by USD 188.14 billion at a CAGR of 46.7% between 2024 and 2029.

The Real Time Payments (RTP) market is experiencing significant growth, driven by the increasing adoption of smartphones and access to high-speed Internet. The digitalization of payments is accelerating, with consumers and businesses seeking faster and more convenient transaction processing. However, this rapid growth comes with challenges. Security concerns, particularly the rise in data breaches, are a major challenge for the RTP market. As more money transactions move online, ensuring the security and privacy of sensitive financial information becomes increasingly important. Companies must invest in robust security measures to mitigate these risks and build trust with their customers.
Additionally, regulatory compliance and interoperability between different payment systems are also key challenges. Despite these hurdles, the RTP market presents significant opportunities for innovation and growth. Companies that can effectively address security concerns and navigate regulatory complexities will be well-positioned to capitalize on the market's momentum and meet the evolving needs of digital consumers and businesses.

What will be the Size of the Real Time Payments Market during the forecast period?

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Payment service providers play a crucial role in the dynamic payment market, offering various solutions such as payment user interfaces, payment processors, virtual cards payment, and payment facilitators. Embedded finance is a growing trend, integrating financial services into non-financial industries through these providers. Mobile banking and digital identity are key components of this evolving payment ecosystem. Payment processors ensure seamless transactions, while payment orchestration optimizes the use of multiple processors. Payment fraud detection and risk management are essential for maintaining security standards, including PCI DSS. Faster payments, such as real-time risk assessment and account-to-account transactions, are driving the market.
Distributed ledger technology and digital banking innovations, like request to pay and push payments, are transforming the payment landscape. Payment transaction costs, processing time, and user experience are critical factors influencing consumer preferences. Payment gateway aggregation and network connectivity enhance payment network interoperability, enabling SWIFT gpi and frictionless payments. Payment transaction volume and success rate are essential metrics for businesses, with pull payments and payment rejection rate impacting approval rates. Payment network interoperability and seamless payments contribute to a better user experience. Payment data analytics provide valuable insights, improving overall payment processing efficiency.

How is this Real Time Payments Industry segmented?

The real time payments industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Component

  Solutions
  Services


Deployment

  On-premises
  Cloud


Sector

  Large enterprises
  SMEs


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa



  APAC

    China
    India
    Singapore
    Thailand


  South America



  Rest of World (ROW)

By Component Insights

The solutions segment is estimated to witness significant growth during the forecast period.

In the dynamic realm of financial transactions, advanced payment solutions have become integral components of modern business operations. These solutions encompass payment gateway systems, wallet solutions, and point-of-sale systems. Payment gateways serve as secure and real-time digital payment acceptance platforms, enabling seamless transactions between merchants, shoppers, and financial institutions. The proliferation of the Internet and its decreasing costs have fueled the digital and technological shift in various sectors, including retail, education, agriculture, logistics, finance, and healthcare. This transformation has led to a significant surge in digital payments across multiple industries worldwide. Payment wallet solutions, consisting of mobile wallets and peer-to-peer (P2P) payments, have gained immense popularity due to their convenience and accessibility.

The integration of cloud computing, application programming interfaces (APIs), and API integration has streamlined payment processing and authentication, enhancing the overall customer experience. Biometric authentication, two-factor authentication, and fraud prevention measures ensure the security of these transactions. Moreo

According to Cognitive Market Research, the global regulatory technology market size will be USD 15241.2 million in 2024. It will rise at a compound annual growth rate (CAGR) of 21.2% between 2024 and 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 6096.5 million in 2024 and will climb at a compound annual growth rate (CAGR) of 19.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4572.4 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3505.5 million in 2024 and will climb at a compound annual growth rate (CAGR) of 23.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 762.1 million in 2024 and will climb at a compound annual growth rate (CAGR) of 20.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 304.8 million in 2024 and will climb at a compound annual growth rate (CAGR) of 20.9% from 2024 to 2031.
The risk & compliance management category is the fastest-growing application segment of the regulatory technology industry.

Market Dynamics of Regulatory Technology (RegTech) Market

Key Drivers for Regulatory Technology (RegTech) Market

Increased Incidence of Fraud and Money Laundering to Promote Market Growth

The rise in fraudulent activities and money laundering schemes has become a major concern for businesses and regulatory bodies worldwide. The sophistication of fraud techniques, including cybercrime, identity theft, and synthetic fraud, has grown, making it imperative for organizations to adopt advanced technologies. RegTech solutions provide tools for real-time transaction monitoring, automated reporting, and data analytics, which help organizations identify suspicious patterns and comply with Anti-Money Laundering (AML) regulations more effectively. RegTech firms utilize ML algorithms and AI to analyze large volumes of transactions, enabling organizations to detect anomalies that may indicate fraudulent behavior. These technologies can flag unusual activities for further investigation, allowing for quicker responses to potential threats. The increasing collaboration between governments and financial institutions to combat money laundering also propels the market demand for RegTech solutions. For instance, in November 2020, the Monetary Authority of Singapore (MAS) announced the establishment of a S$35 million Productivity Solutions Grant (PSG) for the financial services industry. This would assist smaller financial institutions in adopting digital solutions for more efficient data reporting to the MAS. The incentive is presently available to banks and will be expanded later to cover insurers and capital market intermediaries.

Rising Demand for Reducing Operational Risk with Data Optimization to Drive Market Share

In the rapidly evolving fintech sector, the growing demand for reducing operational risk through data optimization has become a key driver for the RegTech market growth. Fintech companies are under constant pressure to innovate and provide efficient services while ensuring compliance with a myriad of regulations. Operational risks, including data breaches, technology failures, and compliance failures, can have severe consequences, including financial losses and reputational damage. Thus, these organizations are continuously seeking solutions that help optimize data management processes, enhance compliance, and mitigate risks. RegTech solutions enable fintech firms to streamline their operations by automating compliance processes, thus reducing the reliance on manual interventions that can lead to errors. The integration of data optimization techniques allows for more accurate risk assessments, ensuring that fintech companies can proactively address potential vulnerabilities.

Restraint Factor for the Regulatory Technology (RegTech) Market

Excessive Costs for Software Implementation and Maintenance to Limit Market Size

One of the major restraints in the regulatory technology market is the excessive costs associated with the implementation and ongoing maintenance of RegTech solutions. For many organizations, particularly small & medium-sized enterprises (SMEs), the upfront investment required to integrate...

SG：外币货币市场利率在12-01-2013达0.250年利率%，相较于12-01-2012的0.424年利率%有所下降。SG：外币货币市场利率数据按年更新，12-01-1983至12-01-2013期间平均值为5.262年利率%，共31份观测结果。该数据的历史最高值出现于12-01-1984，达10.803年利率%，而历史最低值则出现于12-01-2013，为0.250年利率%。CEIC提供的SG：外币货币市场利率数据处于定期更新的状态，数据来源于International Monetary Fund，数据归类于Global Database的新加坡 – 表 SG.国际货币基金组织.国际金融统计：货币市场和价格政策利率：年度。

Singapore SG: Official Exchange Rate: Average: per USD data was reported at 1.381 SGD/USD in 2017. This records a decrease from the previous number of 1.382 SGD/USD for 2016. Singapore SG: Official Exchange Rate: Average: per USD data is updated yearly, averaging 1.981 SGD/USD from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 3.061 SGD/USD in 1970 and a record low of 1.250 SGD/USD in 2012. Singapore SG: Official Exchange Rate: Average: per USD data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank.WDI: Exchange Rates and Real Effective Exchange Rates. Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar).; ; International Monetary Fund, International Financial Statistics.; ;

Key information about Singapore Money Supply M1

• Singapore Money Supply M1 was reported at 365.824 USD bn in Jan 2025
• This records an increase from the previous number of 358.175 USD bn for Dec 2024
• Singapore Money Supply M1 data is updated monthly, averaging 197.456 USD bn from Mar 2004 to Jan 2025, with 251 observations
• The data reached an all-time high of 394.384 USD bn in Feb 2022 and a record low of 34.654 USD bn in Apr 2004. Singapore Money Supply M1 data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Money Supply M1: USD: Monthly: Seasonally Adjusted

Key information about Singapore Money Supply M2

• Singapore Money Supply M2 was reported at 994.068 USD bn in Jan 2025
• This records an increase from the previous number of 976.933 USD bn for Dec 2024
• Singapore Money Supply M2 data is updated monthly, averaging 537.545 USD bn from Mar 2004 to Jan 2025, with 251 observations
• The data reached an all-time high of 1,033.934 USD bn in Sep 2024 and a record low of 154.428 USD bn in Apr 2004
• Singapore Money Supply M2 data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Money Supply M2: USD: Monthly: Seasonally Adjusted

Singapore Official Exchange Rate: Period Average: Local Currency to USD data was reported at 1.297 USD/SGD in May 2025. This records a decrease from the previous number of 1.324 USD/SGD for Apr 2025. Singapore Official Exchange Rate: Period Average: Local Currency to USD data is updated monthly, averaging 1.451 USD/SGD from Jan 1987 (Median) to May 2025, with 461 observations. The data reached an all-time high of 2.153 USD/SGD in Jan 1987 and a record low of 1.209 USD/SGD in Aug 2011. Singapore Official Exchange Rate: Period Average: Local Currency to USD data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank.GEM: Foreign Exchange Rates. Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar).

SG：中央银行政策利率：期末在12-01-2017达2.150年利率%，相较于12-01-2016的1.170年利率%有所增长。SG：中央银行政策利率：期末数据按年更新，12-01-1987至12-01-2017期间平均值为1.130年利率%，共31份观测结果。该数据的历史最高值出现于12-01-1988，达5.380年利率%，而历史最低值则出现于12-01-2012，为0.180年利率%。CEIC提供的SG：中央银行政策利率：期末数据处于定期更新的状态，数据来源于International Monetary Fund，数据归类于Global Database的新加坡 – 表 SG.国际货币基金组织.国际金融统计：货币市场和价格政策利率：年度。

Key information about Singapore Current Account Balance

• Singapore Current Account recorded a surplus of 21.6 USD bn in Dec 2024, compared with a surplus of 25.7 USD bn in the previous quarter.
• Singapore Current Account Balance: USD mn data is updated quarterly, available from Mar 1986 to Dec 2024, with an averaged value of 6.7 USD bn.
• The data reached an all-time high of 26.4 USD bn in Jun 2022 and a record low of -307.4 USD mn in Mar 1987.
• CEIC converts quarterly Current Account Balance into USD. The Singapore Department of Statistics provides Current Account Balance in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.
• Foreign Direct Investment (FDI) increased by 45.6 USD bn in Dec 2024.
• Singapore Direct Investment Abroad expanded by 12.8 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 7.7 USD bn in Dec 2024.
• The country's Nominal GDP was reported at 120.6 USD bn in Mar 2023.

Singapore SG: PPP Conversion Factor: to Market Exchange Rate: Price Level Ratio data was reported at 0.615 % in 2017. This records a decrease from the previous number of 0.620 % for 2016. Singapore SG: PPP Conversion Factor: to Market Exchange Rate: Price Level Ratio data is updated yearly, averaging 0.624 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 0.763 % in 1996 and a record low of 0.515 % in 2003. Singapore SG: PPP Conversion Factor: to Market Exchange Rate: Price Level Ratio data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank: Gross Domestic Product: Purchasing Power Parity. Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amount of goods and services in the domestic market as a U.S. dollar would buy in the United States. The ratio of PPP conversion factor to market exchange rate is the result obtained by dividing the PPP conversion factor by the market exchange rate. The ratio, also referred to as the national price level, makes it possible to compare the cost of the bundle of goods that make up gross domestic product (GDP) across countries. It tells how many dollars are needed to buy a dollar's worth of goods in the country as compared to the United States. PPP conversion factors are based on the 2011 ICP round.; ; World Bank, International Comparison Program database.; ;