Real-time payment volume in Asia-Pacific is set to sevenfold from 2022 to 2027
This publication provides insights into the future trends of the global digital payment market. Among other findings, the publication reveals that real-time payments are experiencing a surge in popularity worldwide, with Egypt forecasted to experience one of the highest growth rates between 2022 and 2027.
By 2026, the volume of non-cash transactions worldwide is projected to nearly double
The global online payments industry has been significantly influenced by the COVID-19 global health crisis in recent years, resulting in substantial advancements in the market. The rate of adoption of cashless payments has accelerated dramatically and is expected to continue growing post-pandemic, as highlighted by the analyst. In fact, 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. Asia-Pacific is expected to contribute the highest value, followed by Europe and North America by 2026.
Latin America and the Middle East are expected to experience the highest growth in real-time payments
The use of digital payments is continually on the rise worldwide, with more individuals choosing to move away from cash usage. 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, just below 100 billion transactions, followed by Asia-Pacific and Latin America, as indicated in the new publication. These three regions are projected to remain in the top three, with Asia-Pacific surpassing the Middle East, Africa, and South Asia by 2027. Egypt is expected to be one of the countries with the highest real-time payment transaction volume growth, displaying a triple-digit Compound Annual Growth Rate (CAGR) between 2022 and 2027, reaching close to one billion transactions. Furthermore, the share of real-time payments in total electronic payments is currently and is expected to remain the highest in Middle East, Africa, and South Asia, reaching almost 80% in 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
Key Questions Covered in the Report
- 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?
Table of Contents
1. Management Summary
Samples
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alipay
- Android Pay
- Apple Pay
- Paypal
- Samsung Pay
