World Payments Report 2021

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.