In collaboration with RBS and Efma, the World Payments Report 2011 examines the latest developments in the global payments landscape, including trends in payments volumes and instrument usage (such as cards and cheques), key payments-related regulatory initiatives and the strategic considerations and options for banks in a payments landscape where commoditization, specialization, and regulatory pressures are peaking:
Other selected key findings include:
- The use of credit and debit cards continued to grow in most markets in 2009 and global transaction volumes were up 9.7%. Cards remain the preferred non-cash payment instrument globally, with a market share of more than 40% in most markets and a high of 68% in Canada. Learn more about the mix of payments instruments including the decline of check usage across the globe in the report.
- E-payments and m-payments collectively accounted for an estimated 22.5 billion transactions in 2010. Mobile payments are growing even faster than predicted in our last report reflecting strong user adoption. Mobile payments will represent 15% of all cards transactions by 2013, and will overcome cards volumes within 10 years if growth continues at the same rate.
- eGovernment initiatives are emerging as a key enabler of non-cash payments.
- Key Regulatory and Industry Initiatives (KRIIs) are fuelling five main industry transformation trends (ITTs): Systemic-risk reduction and control, Standardization, Transparency, Convergence, and Innovation, which are combining to drive change far into the future. Industry players will need to gauge the effects and reshape their business (and delivery) models accordingly.
- Market conditions and trends are driving standardization in the payments landscape, increasing commoditization in most payments instruments. In this environment, the imperative for banks and PSPs is to distinguish their propositions and prove their value through specialization. Learn more about two potentially evolving roles of Wholesale Payments Providers (WPP) and Retail Payments Services Providers (RSPP) in the report.
The report includes spotlights on key regulatory and industry initiatives, card fraud: chip-and-PIN technology, and mobile payments.
For more information please click here.
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