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%.

World Payments Report 2020

The World Payments Report 2020 from Capgemini is the leading source for data, trends and insights on global and regional non-cash payments, the key regulatory and industry initiatives (KRIIs), and today’s dynamic payments environment. This 16th edition highlights the need for payment firms to rapidly prioritize technology transformation in order to become digital masters and stay competitive.

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