Monday
October 16
2017

Emerging markets drive uptake of digital payments

Global digital payment volumes are expected to increase by an average 10.9% through to 2020, amounting to nearly 726bn transactions, according to a new study.

The World Payments Report 2017, produced by global IT consultancy Capgemini and BNP Paribas, the banking group, also estimates that volumes generated by emerging economies will grow by 19.6% – or three times the rate of mature economies.

And the trend is particularly noticeable in emerging Asia – which includes China, Hong Kong and India – where the volume of digital payments is expected to grow 30.9% over the next three years.

Photo courtesy of Simone McCourtie.

Source: WARC (link opens in a new window)

Categories
Inclusive Fintech
Tags
digital payments, digital revolution, economic development, emerging economies, financial technology, fintech