Non-cash payments volume

Global non-cash transactions surged nearly 14% from 2018–2019 to reach 708.5 billion transactions, the highest growth rate recorded in the past decade. Asia-Pacific surpassed Europe and North America to become the 2019 non-cash transactions volume leader, at 243.6 billion. The growth was driven by increasing smartphone use, booming e-commerce, digital wallet adoption, and mobile/QR-code payments innovations. It was led by China, India, and other SE Asian markets (32% growth). COVID-19 aftershocks will tamp down global non-cash volumes, as 2019–2023 growth expectedly shrinks to 12%, compared with our previous 16% projection.

Non-Cash Transactions Globally and Regionally – Historical Volumes, 2014-2019

With a growth rate of nearly 25%, Asia-Pacific (APAC) led the global non-cash transactions space, with recorded volumes  of 243.6 billion in 2019, aligning with our World Payments Report 2019 projections. The region’s growth is being driven by rapidly increasing smartphone penetration, a booming e-commerce segment, flourishing adoption of digital wallets, and innovations – primarily mobile–and QR-code payments. Europe’s non-cash transaction volumes grew more than 12% from 2018–2019. Non-European Union (non- EU) countries were up by more than 19%. Middle East and Africa (MEA) grew by a phenomenal 19%. Latin America grew by 8%, while North America’s growth rates were at a stable 6%.


Worldwide non-cash transactions ( billions), by region, 2014–2019

Global 12.5% 14.1%
Middle East and Africa 11.4% 18.5%
Latin America 7.0% 7.8%
North America 5.6% 5.6%
Europe 11.3% 12.2%
Asia-Pacific 24.1% 24.7%

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