Asia-Pacific Leading the Way in the Cashless Revolution: Insights from the Global Digital Payment Market

Dublin, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The "Global Digital Payment Forecasts 2023-2027" report has been added to's offering.

This provides valuable insights into the future trends of the global digital payment market. Among the key findings, the report reveals that real-time payments are experiencing a remarkable surge in popularity worldwide, with Egypt projected to exhibit one of the highest growth rates between 2022 and 2027.

Key Highlights:

  1. Explosive Growth in Non-Cash Transactions: By 2026, the volume of non-cash transactions worldwide is expected to nearly double. The global online payments industry has been significantly influenced by the COVID-19 pandemic, resulting in substantial advancements. The adoption of cashless payments has accelerated dramatically and is expected to continue growing post-pandemic. Global cashless transactions are forecasted to grow at a Compound Annual Growth Rate (CAGR) of over 16% from 2023 to 2026, surpassing 2 trillion non-cash transactions.
  2. Asia-Pacific Leading the Charge: Asia-Pacific is expected to contribute the highest value to the global cashless transactions market by 2026, followed closely by Europe and North America.
  3. Real-Time Payments on the Rise: The use of digital payments is steadily increasing worldwide, with a growing number of individuals opting for cashless transactions. Consequently, real-time payments are gaining popularity globally. In 2022, the Middle East, Africa, and Southeast Asia region recorded the highest volume of real-time payments, approaching 100 billion transactions. Asia-Pacific and Latin America followed suit. These regions are projected to maintain their top positions, with Asia-Pacific surpassing the Middle East, Africa, and South Asia by 2027.
  4. Egypt's Remarkable Growth: Egypt is poised to experience one of the highest real-time payment transaction volume growth rates, with a triple-digit Compound Annual Growth Rate (CAGR) anticipated between 2022 and 2027, reaching close to one billion transactions.
  5. Real-Time Payments Dominance: The share of real-time payments in total electronic payments is currently and is expected to remain the highest in the Middle East, Africa, and South Asia, reaching almost 80% by 2027.

Countries Covered:

  • Argentina
  • Brazil
  • Canada
  • Chile
  • China
  • Colombia
  • Egypt
  • France
  • Germany
  • India
  • Indonesia
  • Italy
  • Japan
  • Mexico
  • Nigeria
  • Philippines
  • Russia
  • Saudi Arabia
  • Singapore
  • South Korea
  • UAE
  • United Kingdom
  • USA

Companies Mentioned

  • Alipay
  • Android Pay
  • Apple Pay
  • Paypal
  • Samsung Pay

Key Questions Answered:

  • What is the size of the global digital payments market in 2023 and how is it projected to grow through 2030?
  • How high is the non-cash transaction volume in different regions globally and how is it projected to change by 2026?
  • How many adults in China will use digital wallets daily in 2022?
  • By how much will the real-time payments volume grow by 2027 in different regions and countries worldwide?
  • How much will real-time payments make up of total electronic payments across the global regions by 2027?

Key Topics Covered:

1. Management Summary

2. Global Developments

  • Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2020 - 2025f
  • B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2019 - 2025f
  • Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
  • Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
  • Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e

3. Asia-Pacific

4. Europe

5. North America

6. Latin America

7. Middle East & Africa

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