Methodology for global non-cash transactions volume data in WPR 2019
Data for Australia, Brazil, Canada, China, Hong Kong, India, Japan, Mexico, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Turkey, and the U.S. were taken from the latest Bank for International Settlements (BIS) payment statistics Red Book (2017 data released December 2018). Data for Europe, Romania, Czech Republic, Hungary, and Poland were taken from the ECB Statistical Data Warehouse (2017 data released September 2018). For the remaining countries, data was taken from Central Bank’s publications and websites. Macroeconomic indicators (gross domestic product and population) were collected from the World Bank.
Total non-cash circulation is the sum of check, debit card, credit card, credit transfer, and direct debit transactions. Due to the numerous revisions in official data made by the sources, along with changes in reporting methodology by various countries, data for previous years may diverge from data initially reported in WPR 2018. Wherever data was unavailable or substantially different, data was estimated on a linear basis. There were no major changes in methodology, and for all other countries, we used the latest data published, even if restated for previous years.
Because of a lack of reliable historical data trends, data for some countries has been estimated and grouped under the appropriate regional heading: other Asian countries, other Latin America countries, or other CEMEA countries.
For worldwide macro descriptive graphs (number of transactions per region), six regions were defined: Europe without Russia and Poland, North America, Mature Asia-Pacific (Japan, Australia, South Korea, Singapore), Emerging Asia (China, Hong Kong, India, other Asian markets), Latin America, and CEMEA, grouped by geographic, economic, and non-cash payment market maturity criteria.
Methodology to estimate 2018 to 2022 non-cash transactions volume
We have included estimations for global non-cash transaction volume – which include check, debit card, credit card, credit transfer, and direct debit transactions – from 2018 through 2022. The estimates were calculated using our proprietary forecast model.
The model is bottom-up, based on the non-cash transaction volume trends and estimates for each of the countries in-scope, and also takes into account factors such as historical growth rates of non-cash instruments at a country-level, the local regulatory environment, and certain macroeconomic factors that can affect the growth of non-cash payments in a region.