Digital payments volumes will grow by an average 10.9% through to 2020, reaching nearly 726 billion transactions, according to a report by Capgemini.

The IT major’s World Payments Report 2017 (WPR 2017) estimates volumes generated by emerging economies to grow by 19.6%, or three times the rate of mature economies. Led by China and India, Asia is expected to register 30.9% surge in volumes.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

From 2015–2020, non-cash wholesale transactions by corporates, mid-sized enterprises and public authorities worldwide are estimated to register a CAGR of 6.5%, or more than 122 billion wholesale transactions.

During 2014-2015, global non-cash transaction volumes rose 11.2% to reach 433.1 billion, the highest growth in a decade. According to the report, this growth was driven by developing markets which registered a jump of 21.6%. Mature markets increased by 6.8%, a nominal rise of over 6% in 2014.

Despite surge in digital payments across the globe, cash remains in the mainstream, particularly for low-value transactions, the report noted.

In the future, mobility, connected homes, entertainment, and media will boost non-cash transactions, the report predicted.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The report highlighted the emergence of a new payments ecosystem driven by a number of converging factors such as PSD25 compliance, fintechs, changing corporate and customer expectations for value-added services, and rise in payments-enabling technologies.

Capgemini head of global banking and capital markets Anirban Bose said: “Within this new and dynamic ecosystem, payments industry participants must strategically reassess their roles. Banks must embrace this opportunity to enhance their offerings in collaboration with FinTechs and third-party developers. Breakthrough technologies and significant industry advances, such as Open APIs6, instant payments, blockchain, and regulatory standardization, will encourage collaboration.”