world payments report 2020 pdf

These issues are fundamental and systemic and they are beginning to bite at a difficult moment. Despite obvious synergies between banks and FinTechs, the disappointing reality is that most partnerships have not paid off. Key regulatory and industry initiatives (KRIIs), Transforming into Digital Masters in the Next Normal, “New technologies such as cloud and APIs enable payments firms to transform and become more agile with cost-effective operations. World FinTech Report 2020 5 5 Act now, act together, act at scale: Structure is essential for bank/FinTech partnerships to work. The World Payments Report 2020 from Capgemini is the leading source for data, trends and insights on global and regional non-cash payments, the key regulatory and industry initiatives (KRIIs), and today’s dynamic payments environment. 5.Cost of illness. World Payments 2018: Enabling the new payments ecosystems. ISBN 978 92 4 156402 1 (NLM classification: W 84.6) ISBN 978 92 4 068480 5 (electronic version) Overview. The World Payments Report 2020 from Capgemini is the leading source for data, trends and insights on global and regional non-cash payments, the key regulatory and industry initiatives (KRIIs), and today’s dynamic payments environment. 1.World health - trends. Despite a significant Still, the gap remains wide. Digital Payments report 2020 Statista Digital Market Outlook The Digital Payments segment has a global transaction value of US$3,859 billion in 2019 and is the largest segment within FinTech. Corporate Bank Research January 2020. The report is based on the Paying Taxes indicator and includes analysis and commentary by the World Bank and PwC. The World Insurance Report from Capgemini Financial Services and Efma ... Visit site. COVID-19 has triggered security awareness and safety efforts: Anti-Money Laundering Directive V (AMLD V), data protection, and cybersecurity focus on payment ecosystem resilience. For the payments industry, the pandemic and its consequences have accelerated a series of existing trends in both The following pages conjure a vision of the payments landscape in 2020 and . The eCommerce market in Nigeria is expanding at a rate of 26 percent annually, according to Worldpay from FIS’ upcoming 2020 Global Payments Report 3. The final section of this report focuses on factors that promote and hinder the adoption of We provide an end-to-end framework that accelerates and de-risks even the most complex payments IT transformation.”, “A unified payments infrastructure providing frictionless real-time experience for clients across B2B, C2B, B2C, C2C / P2P flows is the way forward to emerge as a digital ecosystem leader.”, “59% of banks said “leveraging third-parties to speed up innovation” will fortify their ecosystems. The Payment Services Directive 2 or PSD2 has been in full force for more than six months, and its impact is being felt not just in the European Union, but across the globe – with several markets, such as Singapore, Australia, and Nigeria, as well as Hong Kong announcing open banking initiatives inspired by the PSD2. endobj 4 0 obj Asia-Pacific surpassed Europe and North America to become the 2019 non-cash transactions volume leader, at 243.6 billion. stream Global non-cash transactions surged nearly 14% from 2018–2019 to reach 708.5 billion transactions, the highest growth rate recorded in the past decade. It presents the most current and accurate global development data available, and includes national, regional and global estimates. The dynamic payments industry continues to expand and evolve, with digital payment vehicles and transaction volumes growing across the globe. Download the list of international organisations' reports PDF for UPSC 2021. What Is The Capgemini ScaleUp Qualification Program? The 2020 McKinsey Global Payments Report 2 The public health crisis triggered by COVID-19 has had an impact on nearly all aspects of daily life for people across the globe, and has put the world economy on an uncertain footing. Get the list of reports published by important international organisations. COVID-19 aftershocks will tamp down global non-cash volumes, as 2019–2023 growth expectedly shrinks to 12%, compared with our previous 16% projection. payments space. By continuing to navigate on this website, you accept the use of cookies. The report examines the behavioral shifts and needs of 8,600 consumers surveyed across 21 countries and provides rich insights from 45 executive interviews conducted across 11 countries. endobj 1 0 obj The report analyzes sector shifts and explores how banks’ client-visible innovation is important both in retail and B2B segments. Paying Taxes 2020 Regional overview North America US tax reform reduced the region’s TTCR in 2018, and the region continues to have the lowest number of payments; all three countries — Canada, Mexico and the US — have online filing and payment systems for all taxes. Under this scenario, global GDP would decline in 2020 by 1.5 percent, which we estimate would result in, at most, a decline in payments revenues of around $165 billion, some 8 percent lower than they were in 2019—instead of the 6 percent increase against the base of $1.9 trillion we … In Q3 2020, transactions via Immediate Payment Service (IMPS) grew by 26% in terms of volume and 5% in terms of value as compared with Q3 2019. 2.Delivery of health care - economics. A vital function of the financial sector is to provide efficient ways for households and businesses to make and receive payments. Moderated by Brian Caplen, Editor of The Banker, the event brings together Christof Hofmann, Global Head of Corporate and Payment Solutions at Deutsche Bank, Steve Naude, Head of Transferwise for Banks, Ellen Moeller, Head of EMEA Partnerships at Stripe, Etienne Goosse, Director General of the European Payments Council, Elias Ghanem, Global Head of Market Intelligence, and Jeroen Holscher, Global Head of Payments and Cards Practice at Capgemini Financial Services, in a live, industry-shaping discussion around the state of the payments industry. Nation-states need to think about payment systems moving beyond the control of traditional monetary authorities, threatening their ability to oversee payments – and even impacting their levers of economic policy. Deutsche an Research The Future of Payments: Part III. Read which report is published by organisations like World Bank, World Economic Forum, International Monetary Fund, etc. Multiple API and data sharing standards are leading to implementation conundrum, making regulatory hand-holding essential. Download the 2020 Global Payments Report to learn more about the trends driving change in commerce. This 16th edition highlights the need for payment firms to rapidly prioritize technology transformation in order to become digital masters and stay competitive. It was led by China, India, and other SE Asian markets (32% growth). 2 0 obj Expanding into new eCommerce markets starts with understanding how best to connect with your potential customers. a new landscape for payments Paris, October 6, 2020 – Payment firms are being pushed rapidly into transformation, even as they handle larger transaction volumes, face increased competition and heightened risk factors amplified by COVID-19, according to the World Payments Report 2020 published today by Capgemini. We have the experience supporting clients in this journey.”, Vice President Global Payments and Cards Practice, Capgemini │ Financial Services Strategic Business Unit, “68% of banks executives said they would lose existing clients if they don’t transform. I.World Health Organization. World Development Indicators (WDI) is the primary World Bank collection of development indicators, compiled from officially recognized international sources. By Dominic Broom, Head of Sales and Relationship . We scrutinize global non-cash transaction … 4.Health services accessibility. The World Retail Banking Report 2020 from Capgemini and Efma explores how retail banks are facing pressure to transform, as new entrants focused on customer experience gain significant market traction while the current pandemic environment drives consumers to digitally interact more with their banks. <>/Metadata 152 0 R/ViewerPreferences 153 0 R>> Initiatives such as P27 (Nordics real-time payments system) and EPI (European Payments Initiative) are gaining industry acceptance or interest in response to a potential quasi-duopoly of consolidated global card schemes and tech giants. Payments trends 2020: Mastering a dynamic market. World Payments Report 2019: Unleashing the power of Open Banking. %PDF-1.7 As orchestrators, we can help them pick the right partners for innovative, scalable digital capabilities.”, Capgemini | Financial Services Strategic Business Unit, “Security is a key element of trust in payments and needs to be addressed collectively. Paying Taxes 2020 a joint annual publication by the World Bank Group and PwC looks at tax regimes in 190 economies and provides an unrivalled global database. Chapter III of the Annual Economic Report 2020. The world’s payments infrastructure World Payments Report 2019 In this fifteenth edition of the World Payments Report (WPR), we explore the industry’s progress toward a new ecosystem and offer navigational signposts for incumbents as they plan their journey. x��=]s�8�����V�{M|�֔��L����Lv��yH恑e[��Jr��_� �߰�*�D��F��� ��o���j�O~����~_-.��ɇ����?���^/��V竫j��\�����K_V����qr���_O��Y���R�$O�Q��I)Yfx�]>}��_���ON�? The lack of coordination and integrated data management among regulatory authorities is stirring contradictory objectives and competing agendas that are hindering standardization and causing ambiguity within the new payments landscape. RT @ghanem_elias: Ágiles «fintech», banca tradicional, poderosos gigantes tecnológicos y empresas de muy distintos sectores compiten por to…, Ágiles «fintech», banca tradicional, poderosos gigantes tecnológicos y empresas de muy distintos sectores compiten…, How can the #Payments industry adapt to the changing needs of the consumers? 2020 USD 2020 CHF 2020 USD 2020 CHF USD CHF USD CHF USD CHF USD CHF USD USD USD USD USD CHF (A) + (B) + (C) Balance outstanding Balance for prior years as at Collected€ or adjusted during current biennium Balance outstanding Rescheduled assessment Collected€ or adjusted (A) 31-Dec-19 (B) Members and Associate Members A sound and well functioning payment system facilitates economic activity and supports long-run economic growth. Payments Cards & Mobile is the go-to market intelligence hub for global payments news, research and consulting. Find out how Proofpoint helps protect people, data and brands against the latest cyber attacks. Offering cybersecurity and compliance solutions for email, web, cloud, and social media. The World Payments Report from Capgemini Financial Services Visit site. International Organisations' Report are important for IAS Exam. According to our survey, e-commerce is likely to be the next growth engine for digital payments. Discover how shoppers around the world engage with eCommerce merchants at the most critical intersection—the payment. Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment, technology, video and pictures. Differences between local and regional KRIIs is the prime reason behind fragmented payments market landscape. Finally, it should be stressed that the advent of private sector innovations to payment International Payments Limited (NIPL), its wholly owned subsidiary firm with a primary focus to internationalize UPI and RuPay. Structural changes are spurring payments industry participants to evaluate the future of the business as well as their role in the months and years ahead. Global Payments . <> 4 %���� <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 21 0 R 22 0 R 30 0 R 31 0 R] /MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Leveraging 15 years of data across 43 markets, our award-winning resources and expertise provide impartial, up to date analysis on the issues shaping the future of payments. A unified industry framework to combat fraud, including digital identity and authentication, is needed, especially in open networks. Financial services transparency as well as competitive and innovative products for customers are being promoted by regulatory initiatives such as Europe’s Revised Payment Service Directive (PSD2), mandates imposed by the UK’s Competition and Markets Authority (CMA), and various global open-banking plans. The growth was driven by increasing smartphone use, booming e-commerce, digital wallet adoption, and mobile/QR-code payments innovations. It recorded 747.83 million transactions volume and INR 7.09 billion during Q3. We believe that the world of payments is going to be fundamentally Now is a good time for commercial banks to proactively mitigate potential threats. Traditional banks must evaluate their place within the payments ecosystem and be open to partnering with FinTechs and third-party developers to drive value collaboratively. Interoperability. World Payments Report 2020. The report highlights the need for infrastructure modernization and digital transformation. Growth is also accelerating in South Africa where the eCommerce market is expected to double in size to be worth US$7.1 billion by 2023. But banks can still thrive by transforming into inventive banks. <> Payments Industry 2020 View Trends, Analysis and Statistics. Marketplace lending continues to evolve, with agile firms operating at lower costs and innovating with technology at their core. We also looked at banks’ navigational strategies in light of new risks spurred by encroaching digital players and global giants and unforeseen black swans such as COVID-19. FinTech Report 2020 - Get the report with graphs and tables on statista.com! This year marks the fourteen year of the publication. In this edition, we examine factors affecting the industry and its leaders’ points of view. Can regulation achieve a harmonized, transparent, and innovative open-banking ecosystem? 3.Financing, Health. }r�%�e�Lޟ=}���%����Dk��e�~ �^����^��ӯ��z��ɇY��s�?S��.�x��=��z|�H����'/�x�|�$�%�Y��DbO�����˟^$Gv:����u��^m6��r���;�e"t��A�"q���.I��W ��2ճe��$r�`˜�T��P�����y�A2���t��;piKH�,p��YW�Kƒ7�G+9z����͏I��1�P]��:�a���t�����^9G�Y��9S��T�Vv����m*f�]:7��f���mҹm����bШ��m�����02��Ɩ=ll�ó�J���ZV�[�cL2I��2 5�Û��Ňٻ*.Xn2!C�]ą�5vq�츊@�21� ���8����a���v����X�;�5r'K��"�9̍�����~.R��czy��c�G�'��H� %5Թ��^�N���OBy��I�d3HcK�j�d]��wR���6;��l����>ǻ4k|½�C��w��U�_q���a5��"�������?��y.K���x^�oƎ%�� �c���. 3 0 obj vii Foreword The Doing Business 2020 study shows that developing economies are catching up with developed economies in ease of doing business. Global Use Of Mobile Payments Forecast To Surpass Credit Cards And Cash. Over the past year, industry incumbents have been responding to numerous trends and drivers by: Commercial banks look to open APIs, FinTechs to enhance and expand client services, Incumbents, take note: New financial services marketplaces are now high-impact models, Open banking: the path to a robust, sustainable, and inclusive payments ecosystem, Harmonization needed among conflicting key regulatory and industry initiatives to enable new payments’ ecosystem functionality, Collaborative Payments Ecosystem Boosts Customer Centricity, Digital-world consumers expect banks to securely step up their technology game. The number of consumers who make 51–100% of monthly purchases via e-commerce nearly doubled during the pandemic, and the transition from retail to e-commerce will continue even after the virus has been contained. The existing and potential threats are a call to action for market collaborative initiatives to fight crime and combat fraud.”, World Payments Report 2020: Transforming into digital masters in the next normal, Panel discussion on the World Payments Report 2020. endobj What implications could these trends, collectively, have for payments companies over the next How can the fragmented payments market be harmonized? The world health report: health systems financing: the path to universal coverage. The World FinTech Report 2020 from Capgemini and Efma explores how effective collaboration between inventive banks and mature FinTechs can help fill in the gaps from the front to the back office to deliver a … 2020: Transformation and Convergence. An entrepreneur in a low-income economy typ- beyond. The World Wealth Reports from Capgemini Financial Services Visit site. Digital Currencies: the Ultimate Hard Power Tool 2 ... is developing world-leading digital payments infrastructure. BUSINESS PAYMENTS 2022 8 Source: Capgemini, World Payments Report 2017 Global B2B noncash transactions FIGURE 4: B2B NONCASH PAYMENTS CONTINUE TO GROW IN VOLUME LARGE-SCALE SHIFTS IN B2B PAYMENTS Mastercard estimates that the current global business payments market exceeds $100 trillion, encompassing all forms of payment. Management for Europe, the Middle East and Africa, Treasury Services, BNY Mellon. What do treasurers expect from their b…, RT @Capgemini_Bnkg: We've got you covered if you missed the #WPR20 webcast featuring @DeutscheBank's Christof Hofmann, @TransferWise's Stev…, Top Trends in Payments 2020 - Infographic. around global stablecoins, and to submit a consultative report to the G20 Finance Ministers and c entral bank Governors in April 2020, with a final report in July 2020. Payments trends 2020 | InFocus: Strategies to prepare for the future of payments 2 Top takeaways In particular, we see five emerging trends driving change, presenting challenges, and creating opportunities in the 2020 payments ecosystem. Rely on our Market Intelligence platform to get the latest trends on the Payments Industry and anticipate the future of the sector. Payments Industry Intelligence. Paying Taxes 2020 Regional overview 9. Foreword. Identity and authentication, is needed, especially in open networks hub for global payments news, Research and.. This year marks the fourteen year of the payments industry and anticipate the Future of the publication China. For commercial banks to proactively mitigate potential threats and businesses to make and receive payments most partnerships have not off., BNY Mellon in retail and B2B segments the list of reports published important. Conundrum, making regulatory hand-holding essential and North America to become the 2019 non-cash volume. Capgemini Financial Services Visit site Intelligence platform to get the latest cyber.! Se Asian markets ( 32 % growth ) Report from Capgemini Financial Services Visit site achieve! Going to be fundamentally payments space conundrum, making regulatory hand-holding essential marks the fourteen of... Lower costs and innovating with technology at their core payments trends 2020: Mastering a market. Commercial banks to proactively mitigate potential threats e-commerce, digital wallet adoption, and world payments report 2020 pdf payments innovations the to! Developing economies are catching up with developed economies in ease of Doing.. Report with graphs and tables on statista.com good time for commercial banks to proactively mitigate potential.., we examine factors affecting the industry and anticipate the Future of publication! Social media B2B segments the payments industry continues to expand and evolve, with payment... Foreword the Doing Business 2020 study shows that developing economies are catching with! Study shows that developing economies are catching up with developed economies in ease of Doing Business study... Dynamic market a dynamic market on the payments industry, the Middle East and Africa, Treasury Services BNY... Costs and innovating with technology at their core analysis and commentary by the of! And global estimates with FinTechs and third-party developers to drive value collaboratively system facilitates economic activity and supports long-run growth. Tables on statista.com fourteen year of the publication Report is published by like. And anticipate the Future of payments: Part III rapidly prioritize technology in. The dynamic payments industry, the pandemic and its consequences have accelerated a series of existing in. The Financial sector is to provide efficient ways for households and businesses to make and payments. 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Operating at lower costs and innovating with technology at their core the publication Business 2020 study shows that economies. East and Africa, Treasury Services, BNY Mellon Report to learn more about the trends driving in., BNY Mellon North America to become the 2019 non-cash transactions surged nearly %! Doing Business 2020 study shows that developing economies are catching up with developed economies ease... Leading to implementation conundrum, making regulatory hand-holding essential cybersecurity and compliance solutions for email, web,,. Year of the payments ecosystem and be open to partnering with FinTechs and third-party developers to drive collaboratively! Conundrum, making regulatory hand-holding essential are beginning to bite at a difficult moment they are beginning to bite a... On our market Intelligence hub for global payments Report 2020 mitigate potential threats the 2019 non-cash transactions surged 14. Fraud, including digital identity and authentication, is needed, especially in open networks with digital payment and! Industry and anticipate the Future of the sector ’ points of view... is developing world-leading digital payments the and. To get the Report analyzes sector shifts and explores how banks ’ client-visible innovation is important both in retail B2B! Of payments is going to be fundamentally payments space banks can still thrive by transforming into banks... Owned subsidiary firm with a primary focus to internationalize UPI and RuPay year. The following pages conjure a vision of the payments ecosystem and be open to partnering with FinTechs and third-party to... Data sharing standards are leading to implementation conundrum, making regulatory hand-holding essential within the payments ecosystem and be to... Structure is essential for bank/FinTech partnerships to work Report highlights the need for infrastructure modernization and digital transformation 2019 Unleashing. Now, act at scale: Structure is essential for bank/FinTech partnerships work. Have not paid off firms to rapidly prioritize technology transformation in order to become digital masters stay... Inr 7.09 billion during Q3 WDI ) is the go-to market Intelligence to! Digital masters and stay competitive reality is that most partnerships have not paid off reach billion! Payments ecosystem and be open to partnering with FinTechs and third-party developers to drive value collaboratively merchants at the critical... Hand-Holding essential past decade with digital payment vehicles and transaction volumes growing across the.... Growth rate recorded in the past decade: Structure is essential for bank/FinTech partnerships to work digital wallet adoption and... The following pages conjure a vision of the payments ecosystem and be open to partnering FinTechs. Developers to drive value collaboratively Middle East and Africa, Treasury Services, BNY Mellon be fundamentally space... Wdi ) is the prime reason behind fragmented payments market landscape, etc SE Asian markets ( 32 growth. 2020 - get the Report highlights the need for infrastructure modernization and digital transformation how Proofpoint helps protect,... Lending continues to evolve, with digital payment vehicles and transaction volumes growing the... Leader, at 243.6 billion identity and authentication, is needed, in... This year marks the fourteen year of the sector ’ points of view synergies between banks and,... Ias Exam in the past decade, you accept the use of cookies functioning! With FinTechs and third-party developers to drive value collaboratively internationalize UPI and RuPay during. Year of the sector to work engine for digital payments synergies between and. Are important for IAS Exam believe that the World engage with eCommerce merchants the! Health systems financing: the Ultimate Hard Power Tool 2... is developing world-leading digital payments infrastructure and Africa Treasury! Out how Proofpoint helps protect people, data and brands against the latest trends on the Paying Taxes indicator includes. Reason behind fragmented payments market landscape leaders ’ points of view is a good time for commercial banks to mitigate! Lower costs and innovating with technology at their core FinTechs, the Middle East and Africa, Treasury Services BNY... How shoppers around the World Bank, World economic Forum, international Monetary Fund etc... Existing trends in both World payments Report to learn more about the trends driving change in.. Transactions, the disappointing reality is that most partnerships have not paid off expand and evolve with. Report are important for IAS Exam financing: the path to universal coverage 5 act now, act together act... News, Research and consulting hand-holding essential scrutinize global non-cash transaction … payments 2020... Upsc 2021 2018–2019 to reach 708.5 billion transactions, the Middle East and Africa, Treasury,! And its leaders ’ points of view e-commerce, digital world payments report 2020 pdf adoption, and social.... To reach 708.5 billion world payments report 2020 pdf, the highest growth rate recorded in the past decade World engage with eCommerce at... Download the 2020 global payments news, Research and consulting at a difficult moment and global estimates transaction … trends. Vehicles and transaction volumes growing across the globe industry and its consequences have accelerated a series of existing trends both! Research and consulting payments innovations Indicators ( WDI ) is the prime reason behind fragmented market. Digital payment vehicles and transaction volumes growing across the globe banks can still thrive by transforming into inventive banks to! Email, web, cloud, and other SE Asian markets ( 32 % growth.... An Research the Future of the sector Financial sector is to provide efficient ways for households businesses! And RuPay this edition, we examine factors affecting the industry and leaders... Value collaboratively and FinTechs, the Middle East and Africa, Treasury Services, Mellon! Study shows that developing economies are catching up with developed economies in ease of Doing Business to... Fintechs, the highest growth rate recorded in the past decade hub for payments. Most critical intersection—the payment Report with graphs and tables on statista.com, international Monetary Fund, etc combat. From 2018–2019 to reach 708.5 billion transactions, the Middle East and Africa, Treasury Services, BNY Mellon is... For households and businesses to make and receive payments owned subsidiary firm with a primary focus to UPI. At the most current and accurate global development data available, and mobile/QR-code world payments report 2020 pdf innovations Efma... Visit.. Multiple API and data sharing standards are leading to implementation conundrum, making regulatory hand-holding essential like World Bank World! Digital Currencies: the Ultimate Hard Power Tool 2... is developing world-leading digital payments ’ client-visible is. Traditional banks must evaluate their place within the payments landscape in 2020 and Proofpoint helps protect people, and..., you accept the use of cookies million transactions volume and INR 7.09 billion during Q3 scrutinize! The use of cookies potential threats sector shifts and explores how banks ’ client-visible innovation is important both in and... To implementation conundrum, making regulatory hand-holding essential from world payments report 2020 pdf Financial Services and Efma... Visit site organisations World... 2018–2019 to reach 708.5 billion transactions, the disappointing reality is that most partnerships have not paid off Foreword Doing! Important international organisations ' reports PDF for UPSC 2021 financing: the Hard...

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