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.

Non-cash transactions globally and regionally - historical volumes, 2016-2020 (dynamic)

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.



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