Non-Cash Payments Volume

Global non-cash transaction grew at 12% to reach 539 billion during 2016-17. In WPR 2019, we estimate that global non-cash transaction volumes will record a CAGR of 14% during 2017-2022F. Developing markets are expected to boost the global growth rate of non-cash transaction volumes with a sustained CAGR of 23.5% during this period, while mature markets are expected to grow by a modest 7.1%. Europe, including the Eurozone, is expected to witness a stable growth of 8.5% over the next five years.

Non-Cash Transactions Globally and Regionally – Historical Volumes, 2013-2017

Emerging Asia (32%) made a significant contribution to record growth in global non-cash transaction volumes. Widespread adoption of digital wallets, the increased success of e-commerce platforms, and innovation in mobile payments are driving the phenomenal growth in the Emerging Asia region. Central Europe, Middle East, and Africa (CEMEA) grew steadily at a little over 19%, with markets such as Russia, Turkey, and Nigeria flourishing. Non-cash transaction volumes are on the rise due to payments infrastructure modernization and alternate payment methods. Latin America grew at a rate of 8% during 2016–17 as political stability in the region began to return and markets revived. The growth rate of mature markets – including mature Asia-Pacific, Europe, and North America – continued at 7% in 2017, aligning with our WPR 2018 prediction for these markets.

Worldwide non-cash transactions (in billions), by region, 2013–2017

CAGR
(2013-2017)
Growth
(2015-2016)
Growth
(2016-2017)
Global 10.8% 10.4% 12.0%
Latin America 5.4% 3.4% 8.3% Developing 22.6%
CEMEA 15.9% 19.0% 19.3%
Emerging Asia 34.6% 27.6% 32.5%
Mature Asia-Pacific 10.5% 10.4% 11.0% Mature 6.9%
Europe (incl. Eurozone) 7.9% 8.4% 7.6%
North America 5.4% 5.1% 5.1%

Note: MEA(Middle East, Africa) now includes Turkey, South Africa, Saudi Arabia, Africa and Middle East, Russia, Other CE countries and Other MEA countries. Other CE countries includes Bulgaria, and Croatia. Other MEA countries includes Algeria, Kenya, Nigeria, Egypt, Israel, UAE, and Morocco; Latin America now includes Argentina, Colombia, Venezuela, Chile, Peru, Uruguay, Costa Rica, Bolivia, and Paraguay in Other Latin American countries; Emerging Asia includes China, India ,Hongkong and other Asian countries including Malaysia, Thailand, Indonesia, Philippines, Taiwan, Pakistan, Sri Lanka, and Bangladesh ; Mature APAC (Asia-Pacific) includes Japan, Australia, South Korea, and Singapore; NA (North America) includes the US and Canada; Chart numbers and quoted percentages may not add up due to rounding; Some numbers may differ from data published in WPR 2018 due to previous years’ data changed at the source, re-categorization of some geographies, and addition of new countries. Source: Capgemini Financial Services Analysis, 2019; ECB Statistical Data Warehouse, 2017 figures released October 2018; Bank for International Settlements Red Book, 2017 figures released December 2018; Countries’ Central Bank Annual Reports, 2018.

 

Source: Capgemini Financial Services Analysis, 2019; ECB Statistical Data Warehouse, 2017 figures released October 2018; Bank for International Settlements Red Book, 2017 figures released December 2018; Countries’ Central Bank Annual Reports, 2018.

World Payments Report 2019

The World Payments Report 2019 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 15th edition analyzes the digital transformation across the global payments market as new market participants like BigTechs, emerging technologies, and changing customer expectation spur disruption.

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