According to TNS forecasts in 2017, the total volume of electronic payments in the world will grow by 10-15% and reach 450 billion transactions. This indicator includes mobile payments, electronic transactions in ATMs and payment terminals, as well as online banking card transactions.
More and more traffic in this market will be generated by non-traditional payment operators, such as PayPal, Venmo, Alipay. It is expected that growth in emerging markets (Africa, Saudi Arabia, India) will be more active (15-20% per year). In these regions, significant impact on the industry will have local operators (such as Paytm India).
The most active activity is the mobile payments sector, which will continue to attract new participants with its own payment applications.
In most sectors, the increase in the number of transactions will outpace the growth of the average check, as consumers prefer to shop more often and spend less.
Bank cards will remain the most common payment instrument, with debit cards users preferring credit cards.
E-payment market growth drivers:
- Increase in the level of penetration of bank cards;
- Introduction of additional security measures (encryption, tokenization and biometrics)
- The growing popularity of mobile payments
- Regulatory impact.
The top 10 countries with the fastest growth in non-cash transactions will include Canada, the United States, Brazil, the United Kingdom, the European Union, Russia, China, Japan, South Korea and Australia.
The forecast was prepared by TNS analysts. Transaction Network Services is an international company engaged in the development of solutions for payment, telecommunication and financial markets.
The volume of the digital payments market (according to Juniper Research)
According to a study conducted by the consulting company Juniper Research, the volume of the digital payments market this year will be $ 3.9 trillion, which is 14% more than in the past. The average check of one digital transaction will be 18.67 dollars.
The study revealed that the largest volume of electronic transactions (55%) will account for online purchases. The P2P (person-to-person) money transfer segment will show the largest increase in net income on an annualized basis (up to $ 200 million). 62% of e-commerce transactions will be committed using mobile devices.
The report notes that especially active digitalization of the payment industry will be observed in the US. In India, the demonetization policy pursued by the government will contribute to the growth of mobile payment services and, as a result, a sharp increase in the number of transactions made using mobile applications. The share of China and the adjacent regions of the Far East in the next five years will account for the largest volume of electronic payments, due mainly to the success of the online shopping site Alibaba.
Key drivers of the digital payments market include Juniper Research e-commerce, money transfers and contactless mobile payments.
Source: Kiosks.ru
