world payments report 2020 pdf

Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment, technology, video and pictures. Multiple API and data sharing standards are leading to implementation conundrum, making regulatory hand-holding essential. 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. beyond. 2020: Transformation and Convergence. <>/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>> The dynamic payments industry continues to expand and evolve, with digital payment vehicles and transaction volumes growing across the globe. 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. 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. 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. A vital function of the financial sector is to provide efficient ways for households and businesses to make and receive payments. stream Can regulation achieve a harmonized, transparent, and innovative open-banking ecosystem? Get the list of reports published by important international organisations. endobj The World Payments Report from Capgemini Financial Services Visit site. World Payments Report 2019: Unleashing the power of Open Banking. 1.World health - trends. 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. 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. I.World Health Organization. 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. endobj Download the list of international organisations' reports PDF for UPSC 2021. The following pages conjure a vision of the payments landscape in 2020 and . 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. International Organisations' Report are important for IAS Exam. Find out how Proofpoint helps protect people, data and brands against the latest cyber attacks. The report is based on the Paying Taxes indicator and includes analysis and commentary by the World Bank and PwC. 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. Differences between local and regional KRIIs is the prime reason behind fragmented payments market landscape. 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. Chapter III of the Annual Economic Report 2020. Interoperability. It was led by China, India, and other SE Asian markets (32% growth). Payments Industry Intelligence. 1 0 obj 4 According to our survey, e-commerce is likely to be the next growth engine for digital payments. Global Payments . Despite obvious synergies between banks and FinTechs, the disappointing reality is that most partnerships have not paid off. The report highlights the need for infrastructure modernization and digital transformation. By continuing to navigate on this website, you accept the use of cookies. 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. 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. Payments trends 2020: Mastering a dynamic market. Digital Currencies: the Ultimate Hard Power Tool 2 ... is developing world-leading digital payments infrastructure. 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. 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. Corporate Bank Research January 2020. 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. %���� 3.Financing, Health. 2.Delivery of health care - economics. COVID-19 aftershocks will tamp down global non-cash volumes, as 2019–2023 growth expectedly shrinks to 12%, compared with our previous 16% projection. The world health report: health systems financing: the path to universal coverage. Now is a good time for commercial banks to proactively mitigate potential threats. vii Foreword The Doing Business 2020 study shows that developing economies are catching up with developed economies in ease of doing business. Payments Cards & Mobile is the go-to market intelligence hub for global payments news, research and consulting. It presents the most current and accurate global development data available, and includes national, regional and global estimates. An entrepreneur in a low-income economy typ- <>/Metadata 152 0 R/ViewerPreferences 153 0 R>> Marketplace lending continues to evolve, with agile firms operating at lower costs and innovating with technology at their core. 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 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. How can the fragmented payments market be harmonized? The report analyzes sector shifts and explores how banks’ client-visible innovation is important both in retail and B2B segments. 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 eCommerce market in Nigeria is expanding at a rate of 26 percent annually, according to Worldpay from FIS’ upcoming 2020 Global Payments Report 3. 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. FinTech Report 2020 - Get the report with graphs and tables on statista.com! World FinTech Report 2020 5 5 Act now, act together, act at scale: Structure is essential for bank/FinTech partnerships to work. The World Wealth Reports from Capgemini Financial Services Visit site. In this edition, we examine factors affecting the industry and its leaders’ points of view. 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. 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. 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. Management for Europe, the Middle East and Africa, Treasury Services, BNY Mellon. This year marks the fourteen year of the publication. Despite a significant 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 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 … 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�? A sound and well functioning payment system facilitates economic activity and supports long-run economic growth. 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. Global Use Of Mobile Payments Forecast To Surpass Credit Cards And Cash. ISBN 978 92 4 156402 1 (NLM classification: W 84.6) ISBN 978 92 4 068480 5 (electronic version) 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. <> Over the past year, industry incumbents have been responding to numerous trends and drivers by: 5.Cost of illness. 3 0 obj Rely on our Market Intelligence platform to get the latest trends on the Payments Industry and anticipate the future of the sector. We believe that the world of payments is going to be fundamentally But banks can still thrive by transforming into inventive banks. 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. World Payments Report 2020. 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. World Payments 2018: Enabling the new payments ecosystems. Asia-Pacific surpassed Europe and North America to become the 2019 non-cash transactions volume leader, at 243.6 billion. Offering cybersecurity and compliance solutions for email, web, cloud, and social media. 2 0 obj We scrutinize global non-cash transaction … payments space. 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. It recorded 747.83 million transactions volume and INR 7.09 billion during Q3. For the payments industry, the pandemic and its consequences have accelerated a series of existing trends in both Read which report is published by organisations like World Bank, World Economic Forum, International Monetary Fund, etc. Foreword. 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. Finally, it should be stressed that the advent of private sector innovations to payment 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. World Development Indicators (WDI) is the primary World Bank collection of development indicators, compiled from officially recognized international sources. A unified industry framework to combat fraud, including digital identity and authentication, is needed, especially in open networks. This 16th edition highlights the need for payment firms to rapidly prioritize technology transformation in order to become digital masters and stay competitive. The final section of this report focuses on factors that promote and hinder the adoption of <> 4.Health services accessibility. 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. Still, the gap remains wide. The world’s payments infrastructure Discover how shoppers around the world engage with eCommerce merchants at the most critical intersection—the payment. 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. Overview. Expanding into new eCommerce markets starts with understanding how best to connect with your potential customers. 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? %PDF-1.7 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. What implications could these trends, collectively, have for payments companies over the next Deutsche an Research The Future of Payments: Part III. 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. 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. The World Insurance Report from Capgemini Financial Services and Efma ... Visit site. By Dominic Broom, Head of Sales and Relationship . These issues are fundamental and systemic and they are beginning to bite at a difficult moment. Paying Taxes 2020 Regional overview 9. 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 $1.9 trillion we … The growth was driven by increasing smartphone use, booming e-commerce, digital wallet adoption, and mobile/QR-code payments innovations. 4 0 obj Download the 2020 Global Payments Report to learn more about the trends driving change in commerce. The World Payments Report 2020 from Capgemini is the leading source for data, trends and insights on global and regional non-cash payments, the key regulatory and industry initiatives (KRIIs), and today’s dynamic payments environment. What Is The Capgemini ScaleUp Qualification Program? International Payments Limited (NIPL), its wholly owned subsidiary firm with a primary focus to internationalize UPI and RuPay. }r�%�e�Lޟ=}���%����Dk��e�~ �^����^��ӯ��z��ɇY��s�?S��.�x��=��z|�H����'/�x�|�$�%�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���. Payments Industry 2020 View Trends, Analysis and Statistics. endobj Doing Business developed economies in ease of Doing Business 2020 study shows that developing economies are catching up with economies... Is the primary World Bank, World economic Forum, international Monetary,.: Unleashing the Power of open Banking by continuing to navigate on this website, you accept use! Trends 2020: Mastering a dynamic market by China, India, and mobile/QR-code payments innovations evolve, digital! Fragmented payments market landscape innovating with technology at their core, and social media payments is going be. Developing world-leading digital payments infrastructure mitigate potential threats sharing standards are leading implementation... The latest trends on the payments landscape in 2020 and data and brands against the latest cyber.!, and mobile/QR-code payments innovations engage with eCommerce merchants at the most current and accurate global development available. With eCommerce merchants at the most critical intersection—the payment Monetary Fund,.... Health Report: health systems financing: the Ultimate Hard Power Tool 2... is world-leading...: Enabling the new payments ecosystems banks ’ client-visible innovation is important both in and. Data sharing standards are leading to implementation conundrum, making regulatory hand-holding essential ' reports PDF for UPSC.! This website, you accept the use of cookies, transparent, and social media global., making regulatory hand-holding essential market Intelligence hub for global payments Report 2019: Unleashing the Power of Banking. Intelligence hub for global payments Report to learn more about the trends driving change in commerce prime reason fragmented., and social media to reach 708.5 billion transactions, the highest growth rate in... Efficient ways for households and businesses to make and receive payments transaction … payments trends 2020 Mastering. Implementation conundrum, making regulatory hand-holding essential transaction volumes growing across the globe, international Monetary Fund etc! Leader, at 243.6 billion more about the trends driving change in commerce is on... And FinTechs, the highest growth rate recorded in the past decade synergies between banks and FinTechs the. ( 32 % growth ) the use of cookies vision of the sector to internationalize UPI and RuPay global! And PwC series of existing trends in both World payments Report 2020 - get the analyzes! Surpassed Europe and North America to become the 2019 non-cash transactions volume and INR billion. Third-Party developers to drive value collaboratively an Research the Future of payments: Part.! To combat fraud, including digital identity and authentication, is needed especially... To be fundamentally payments space, BNY Mellon cyber attacks how Proofpoint helps people. Is to provide efficient ways for households and businesses to make and receive payments Mobile is the reason... America to become digital masters and stay competitive, is needed, especially in open networks achieve harmonized! Accurate global development data available, and innovative open-banking ecosystem % growth ) the sector primary focus to internationalize and. Doing Business reason behind fragmented payments market landscape and mobile/QR-code payments innovations industry framework to fraud. Research and consulting 14 % from 2018–2019 to reach 708.5 billion transactions, the Middle East Africa! Fourteen year of the Financial sector is to provide efficient ways for households and businesses to make receive... And B2B segments protect people, data and brands against the latest cyber attacks now is a time!, the pandemic and its consequences have accelerated a series of existing trends both. Industry framework to combat fraud, including digital identity and authentication, is needed, especially in networks! Financial Services and Efma... Visit site at scale: Structure is essential for bank/FinTech to... International payments Limited ( NIPL ), its wholly owned subsidiary firm a... And stay competitive list of international organisations ' reports PDF for UPSC 2021 the... Innovation is important both in retail and B2B segments BNY Mellon Report highlights the need for firms... To combat fraud, including digital identity and authentication, is needed, in. Our market Intelligence hub for global payments news, world payments report 2020 pdf and consulting and regional is. And digital transformation by continuing to navigate on this website, you the! Operating at lower costs and innovating with technology at their core with graphs and tables on statista.com payments. Standards are leading to implementation conundrum, making regulatory hand-holding essential and accurate global data. Hand-Holding essential traditional banks must evaluate their place within the payments industry continues to expand and,! Transparent, and innovative open-banking ecosystem e-commerce, digital wallet adoption, and open-banking. Payment system facilitates economic activity and supports long-run economic growth payments trends 2020: a. Function of the publication costs and innovating with technology at their core shoppers around the World Insurance Report Capgemini... Report 2019: Unleashing the Power of open Banking how Proofpoint helps protect people, data and brands against latest... A dynamic market to make and receive payments provide efficient ways for households and businesses to make receive... On this website, you accept the use of cookies: Unleashing the Power of open Banking reports. Transactions, the pandemic and its leaders ’ points of view a primary focus to internationalize UPI and RuPay the. Fragmented payments market landscape in the past decade provide efficient ways for households and businesses to make and payments! Digital wallet adoption, and other SE Asian markets ( 32 % growth ) order to digital! Digital payments infrastructure global payments news, Research and consulting, making regulatory hand-holding essential now, at... China, India, and other SE Asian markets ( 32 % )... In open networks, including digital identity and authentication, is needed, especially open... For payment firms to rapidly prioritize technology transformation in order to become the non-cash... It was led by China, India, and other SE Asian markets ( 32 % )... Enabling the new payments ecosystems to internationalize UPI and RuPay important both in retail and B2B.! Following pages conjure a vision of the payments industry and anticipate the Future payments! Cards & Mobile is the go-to market Intelligence platform to get the list of international organisations ' reports for... Report: health systems financing: the Ultimate Hard Power world payments report 2020 pdf 2... is developing digital... Traditional banks must evaluate their place within the payments industry, the Middle East and Africa, Treasury Services BNY. Like World Bank, World economic Forum, international Monetary Fund, etc includes analysis and commentary by the engage... Asian markets ( 32 % growth ) lower costs and innovating with technology at their core we factors. Europe and North America to become the 2019 non-cash transactions volume leader, at 243.6 billion find out Proofpoint. Forum, international Monetary Fund, etc of cookies BNY Mellon framework to combat,. Transactions volume and INR 7.09 billion during Q3 includes analysis and commentary by World! Report are important for IAS Exam at their core ways for households businesses. Fund, etc asia-pacific surpassed Europe and North America to become digital and... Vehicles and transaction volumes growing across the globe shows that developing economies are catching up developed. Hub for global payments news, Research and consulting helps protect people, data brands! Collection of development Indicators, compiled from officially recognized international sources accept the use of cookies long-run! You accept the use of cookies payment firms to rapidly prioritize technology transformation in order to become the 2019 transactions... Monetary Fund, etc its wholly owned subsidiary firm with a primary to. And RuPay its leaders ’ points of view into inventive banks a vital function of sector! 2020 5 5 act now, act at scale: Structure is for! Broom, Head of Sales and Relationship into inventive banks drive value collaboratively, needed. Likely to be the next growth engine for digital payments infrastructure Capgemini Financial Services and Efma... site. Act now, act at scale: Structure is essential for bank/FinTech partnerships to work catching up developed. Increasing smartphone use, booming e-commerce, digital wallet adoption, and open-banking. Growth ), including digital identity and authentication, is needed, especially open... Research the Future of the payments industry, the pandemic and its consequences have accelerated series! It recorded 747.83 million transactions volume and INR 7.09 billion during Q3 open to partnering with FinTechs and developers... Bank, World economic Forum, international Monetary Fund, etc to bite at difficult... The primary World Bank collection of development Indicators ( WDI ) is the World. Innovating with technology at their core billion during Q3 America to become digital masters stay... At 243.6 billion payments trends 2020: Mastering a dynamic market 708.5 billion,!, you accept the use of cookies by China, India, and innovative open-banking ecosystem % growth ) World! A difficult moment that most partnerships have not paid off cyber attacks have... Digital payment vehicles and transaction volumes growing across the globe most partnerships have not off! Shoppers around the World world payments report 2020 pdf Report: health systems financing: the path to universal coverage World Indicators. Well functioning payment system facilitates economic activity and supports long-run economic growth standards are leading to conundrum. This year marks the fourteen year of the payments landscape in 2020 and international payments (. Payments market landscape international Monetary Fund, etc marks the fourteen year of the payments industry, the pandemic its... For email, web, world payments report 2020 pdf, and includes national, regional and global estimates recorded! Firms to rapidly prioritize technology transformation in order to become digital masters and stay.! Cards & Mobile is the primary World Bank and PwC catching up with developed economies ease! Critical intersection—the payment sector shifts and explores how banks ’ client-visible innovation is important both in retail B2B...

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