Burgeoning usage of next-gen payments to play a pivotal role in driving the next phase of non-cash transactions growth
After eight years of double-digit growth, global non-cash transactions volume growth decelerated to 7.8% in 2020, reaching 785 billion transactions. We estimate global non-cash transactions growth to rebound to 18.6% CAGR (2020–2025F) and volumes to reach 1.8 trillion by the end of the forecast period. Increasing use of next-gen payment methods − buy now, pay later (BNPL), invisible, biometric, and cryptocurrency − will play a pivotal role in driving the growth.
After eight years of double-digit growth, global non-cash transaction volume growth reduced to 7.8% in 2020 from 16.5% in 2019, primarily due to COVID-19 lockdowns, stifled business activity, and reduced consumer spending. Asia-Pacific (APAC) registered the highest growth rate of 16.6% in 2019-20, and recorded transactions volumes of 300 billion (2020).
Worldwide non-cash transactions volume (billions), and YoY growth (%), 2016-2020
CAGR (2016-2020) | Growth (2019-2020) | ||
---|---|---|---|
Global | 12.7% | 7.8% | |
Middle East and Africa | 11.6% | 7.8% | |
Latin America | 8.7% | 3.0% | |
North America | 5.1% | 2.0% | |
Europe | 9.6% | 3.3% | |
Asia-Pacific | 23.8% | 16.6% |
Note: *Non-cash transactions data for 2020 is sourced from the countries central banks. In case of data unavailability, forecasted figures are used.
Sources: Capgemini Financial Services Analysis, 2021; ECB Statistical Data Warehouse, BIS Statistics Explorer, countries central bank annual reports.

World Payments Report 2021
The World Payments Report 2021 explores Payments 4.X – an experience-driven environment that’s witnessing even more industry consolidation and attracting tech-expert ecosystem players. Discover how the customers’ growing digital appetite is shaping the payments industry and what is the way forward to succeed in the new Payments 4.X era.
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