The global banking & payments industry experienced a 13% drop in company filings mentions of online payments in Q2 2023 compared with the previous quarter, with the highest share accounted for by PayPal with 70% year-on-year increase, according to GlobalDataâ€™s analysis of over 115 banking & payments company filings. An overview of the impact of instant payment technology on the payments industry is included in GlobalData’s Instant Payments Market Analysis report along with information on key countries and companies in the sector and instant payment-associated risks and solutions. Buy the report here.
Notably, online payments was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of low cost evolution and digitalization, according to GlobalData.
Of the top leading companies in the banking & payments industry, PayPal had the greatest increase in references for online payments in Q2 2023, compared with the previous quarter. GlobalData identified 577 online payments-related sentences in the company's filings - 27% of all sentences - and an increase of 100% in Q2 2023 compared with Q2 2022. Public Bankâ€™s mentions of online payments rose by 200% to 6 and Itau Unibanco Holdingâ€™s by 200% to 3 and BDO Unibankâ€™s by 100% to 2 and Mastercardâ€™s by 100% to 2.
GlobalDataâ€™s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for online payments in Q2 2023 was 107.
For further understanding of GlobalData's Instant Payments Market Analysis, Key Trends, Strategies, and Future Implications, 2022 buy the report here.