World Payments Report 2021
The World Payments Report 2021 explores Payments 4.X - an experience-driven environment that’s witnessing even more industry consolidation and attracting tech-expert ecosystem players. Discover how the customers' growing digital appetite is shaping the payments industry and what is the way forward to succeed in the new Payments 4.X era.
World Payments Report 2021 Webcast
Hear insights from Renata Caine, SVP, International, Strategy & Planning at Marqeta, Philip Panaino, Global Head, Cash Management at Standard Chartered Bank, and Claus Richter, Deputy CEO & COO at P27 Nordic Payments as they discuss with Capgemini experts the future of the payments industry in the Payments 4.X era.
Next-gen payments to drive the growth
After eight years of double-digit growth, global non-cash transactions volume growth decelerated to 7.8% in 2020, reaching 785 billion transactions. We estimate global non-cash transactions growth to rebound to 18.6% CAGR (2020–2025F) and volumes to reach 1.8 trillion by the end of the forecast period. Increasing use of next-gen payment methods − buy now, pay later (BNPL), invisible, biometric, and cryptocurrency − will play a pivotal role in driving the growth.
Regulators support a collaborative ecosystem
In 2020–21, regulators took a balanced approach to key regulatory and industry initiatives (KRIIs) categories − paving the way for a collaborative open finance future. KRII trajectory is drifting towards effectiveness, fostering FIs to collaborate with FinTechs, PayTechs, and peers to share compliance burdens, launch pan-regional initiatives, and to industrialize investments. While it is too soon to count on nascent central bank digital currency (CBDC), it is moving towards reality – urging firms to be ready to act.
Payments 4.X is here – buckle up for the new era in payments
The report explores Payments 4.X − an evolutionary, COVID-19-sparked era that’s witnessing even more industry consolidation and attracting tech-expert ecosystem players. As part of this phase, expect Payments to become an enabling function that is embedded and sustainable to provide an immersive, seamless, and frictionless customer eXperience. New-age players already exemplify Payments 4.X competencies, while traditional banks seek to maintain positioning by bolstering API maturity, data analytics strength, and processing efficiency.