World payments report 2017

A preview into the global payments landscape

Key Findings

  • Global non-cash transaction volumes grew 11.2% during 2014–2015 to reach 433.1 billion, the highest growth of the past decade, and slightly above last year’s prediction1. This growth was driven to a large degree by developing markets, which recorded a 21.6% increase in 2015 while mature markets grew by 6.8%, a nominal rise over the 6% recorded in 2014. Within the top-10 markets for non-cash transaction volumes, China climbed to third place with 38.1 billion transactions, surpassing 2014’s number three market Brazil.
  • Debit cards and credit transfers were the leading digital instruments in 2015, while check usage continues to decline globally. Debit cards accounted for the highest share (46.7%) of global non-cash transactions followed by credit cards with 19.5% in 2015. Although credit cards volume grew 10% globally in 2015, growth rates across regions declined or grew marginally, except in Emerging Asia. Owing to growing usage of electronic payment methods, the volume of checks continued to fall in 2015 as well, by 13.4% globally. While countries including the U.K. and Australia plan to phase out checks in the near future, no other country’s authorities have set a date on phasing out check usage.
  • Despite the increased adoption of digital payments, cash continues to be in the mainstream, especially for low-value transactions. Apart from transaction sizes, the use of cash is strongly correlated with demographics. Other key factors for high usage of cash are the anonymity of transaction associated with cash, lack of modernized payment infrastructure, and lack of access to banking systems in emerging markets. Although the share of cash in the total payment volumes is declining in the majority of countries, cash in circulation (CIC) remained stable or increased slightly over the past five years. The CIC to GDP ratio is increasing at a higher pace globally except in Denmark, the U.K., Sweden, Canada, and South Africa, and this may hamper the progress toward cashless societies. Since CIC is increasing, it is expected that cash will continue to stay in the system for a longer term than estimated. Several countries in Asia Pacific have higher CIC to GDP ratios and there is an opportunity to increase their per capita non-cash transactions to accelerate their transformation into digital economies.
logo experttube

Video's op het gebied van Audit & Control, Actuariaat & Risk Management, Juridisch & Fiscale Zaken, Pensioenen, Schade & Hypotheken, Compliance en Investment Management.

Bekijk ons volledige overzicht op

logo CareerTube

Videoplatform met werkenbij video's van toonaangevende organisaties in de financiële wereld. Met een focus op de finance specialisatie zorgt de koppeling met de 17 (niche) vacaturesites van CareerGuide direct voor een relevant bereik.

Bekijk ons volledige overzicht op