Covering Europe, North America and Asia, the “World Payments Report 2010” examines the latest trends in the global payments landscape including payments volumes and instruments usage as well as key payments-related regulatory initiatives such as SEPA/PSD, Basel III, Liquidity, Anti-Money Laundering (AML) and Anti-Terrorism Financing (ATF).
The report examines the accelerating transformation of the payments value chain including insights and strategic considerations regarding competitive and cooperative responses to the market environment from outsourcing to partnership strategies and payments hubs.
The World Payments Report 2010 draws on 13 executive interviews with 11 major banks and 2 clearing houses to balance global, regional and local points of view.
Key Findings from the 2010 World Payments Report
Global payments volumes continued to grow in 2009, despite economic pressure from the financial crisis. This followed a period of overall growth in non cash-payments which accelerated to 9% in 2008 from 7% in 2007. The rate of growth in non-cash payments volumes in 2008 was far faster in developing economies, such as China (29%), South Africa (25%) and Russia (66%), than in mature markets such as North America which had a growth rate of 4%. The report reveals that globally, cards remain the preferred non-cash payment instrument, accounting for more than 40% of payments in most markets and 58% globally.
The World Payments Report 2010 examines the latest trends in the global payments landscape including payments volumes and instruments usage as well as key payments-related regulatory initiatives and the consequent strategic challenges and options for banks.
Key findings include:
- The payments business has withstood the financial crisis well. Only time will tell the ultimate fallout, but initial data suggest payments volumes continued to expand in 2009
- Many concrete developments have taken place in the last year towards SEPA and PSD in Europe
- Regulatory pressures continued to affect the payments industry worldwide
- New technology and competition are making the payments universe more complex and expansive and the economic crisis as well as the response of the regulators is accelerating the evolution of the industry.