The World Payments Report 2012 released towards the end of last year shows a healthy 7.1% gain in non-cash payments volume globally. Debit cards continue to gain market share from credit cards, and the use of electronic and mobile payments continues to show exponential growth.
There were an estimated 28.3 billion electronic and mobile payment transactions globally in 2011, and in 2010 more than one in three non-cash payments globally was made using a debit card, up 15.2 per cent, according to the report. But with only 2.1 per cent of all mobile users making m-payments, the potential for additional growth is still huge, with mobile payments set to reach 17 billion by 2013 and e-payments 31.4 billion by 2013.
World Payments Report 2012
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Electronic Payments Report 2012
Two other major themes highlighted by the report are: the relationship between regulation and innovation, with some regulation challenging innovation; and the fact that the BRIC (Brazil, Russia, India, China) concept is no longer valid in payments, with Brazil now the second-highest ranking country by payment volumes after the US.
There were 20 billion non-cash transactions in Brazil in 2010, compared with 13.1 billion in Russia, India and China combined. The report confirms the resilience of payment volumes, as global non-cash payments volumes grew by 7.1 percent in 2010, reaching 283 billion, although early 2011 indications show an additional 8.2% growth. In 2010, payment volumes in developing markets grew at a much faster rate (16.9%), boosted by a more than 30% increase in both Russia and China.
India’s payment volume grew at 10% and has great potential for future growth, but is still the BRIC payment laggard.