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The Thailand card payments market will rebound by 2.1% in 2022 to reach THB1.7 trillion ($50.5 billion), as the economy is on the path to a gradual recovery from the COVID-19 pandemic, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, the value of card payments in Thailand registered a […]
Employee costs account for over half of total operating expenses of global banks in 2021, says GlobalData
Employee costs account for more than 50% of the total operating costs of leading global banks in 2021, posing challenges to banks in improving their net interest margins as the world returns to normality from the COVID-19 pandemic, says GlobalData, a leading data and analytics company. According to GlobalData, among the top 50 banks ranked […]
Card payments in Taiwan to grow by 6.2% in 2022, estimates GlobalData
The Taiwanese card payments market will grow by 6.2% in 2022 to reach TWD3.5 trillion ($127.5 billion), as the country’s economy gradually recovers from the COVID-19 pandemic, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, the value of card payments declined by 6.3% in 2020 due to the COVID-19 […]
Mobile wallet payments go mainstream in India, says GlobalData
Mobile wallet payments have gained significant prominence in India with mobile and digital wallets gradually replacing traditional payments such as cash and cards as retailers from street merchants to big chains prefer mobile payments, finds GlobalData, a leading data and analytics company. India is one of the most developed mobile wallet markets in the world, […]
Japan e-commerce market to grow by 6.9% in 2022, estimates GlobalData
The Japanese e-commerce market is estimated to register a growth of 6.9% to reach JPY22.4 trillion ($194.3 billion) in 2022, as consumers increasingly shift from offline to online purchasing, says GlobalData, a leading data and analytics company. An analysis of GlobalData’s E-Commerce Analytics reveals that e-commerce sales in Japan grew at a compound annual growth […]
St. George tops list of Australian banks in net satisfaction of digital experience, finds GlobalData
With digital banking becoming ever prevalent in recent years, banks are scrambling to provide enhanced digital experience to attract and retain customers. Against this backdrop, St. George has emerged as the leading Australian bank for net satisfaction of digital experience in 2022, reveals GlobalData, a leading data and analytics company. GlobalData’s Australian Competitor Benchmarking report […]
Saudi Arabia card payments market to grow at 13.6% CAGR between 2022 and 2026, forecasts GlobalData
The Saudi Arabian card payments market is expected to grow at a strong compound annual growth rate (CAGR) of 13.6% between 2022 and 2026 to reach SAR822.1 billion ($219.2 billion) in 2026, forecasts GlobalData. According to the leading data and analytics company, growth will be driven by consumers’ increasing preference for electronic payments, a surge in […]
VC investments totalling $14.8 billion were made in the blockchain sector in 2021, as companies continue to focus on IT solutions built on the technology, finds GlobalData
Venture capital (VC) investments in the blockchain sector increased from $2.1 billion in 2020 to an impressive $14.8 billion in 2021, as both companies and investors are eager to develop IT solutions built on blockchain technology despite the lack of regulatory framework, says GlobalData, a leading data and analytics company. GlobalData’s Deals Database reveals that North […]
Card payments in New Zealand to grow at 5% CAGR between 2022 and 2026, forecasts GlobalData
The New Zealand payment card market is expected to gradually recover from the COVID-19 pandemic to register a compound annual growth rate (CAGR) of 5.0% between 2022 and 2026 and reach NZ$98.0 billion ($67.1 billion) in 2026, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, the value of card […]
First Direct tops list of UK banks in net satisfaction of digital experience, finds GlobalData
With digital banking becoming ever prevalent in the UK, banks are scrambling to provide the best digital experience to attract and retain customers. Against this backdrop, First Direct has emerged as the leading UK bank for net satisfaction of digital experience in 2022, reveals GlobalData, a leading data and analytics company. GlobalData’s UK Competitor Benchmarking […]
Card payments in Argentina to grow at 29.9% CAGR between 2021 and 2025, forecasts GlobalData
While cash has traditionally been the most preferred payment method in Argentina, the COVID-19 pandemic is acting as a catalyst for the growth of electronic payments, says GlobalData. According to the leading data and analytics company, Argentina’s card payments market is set to grow at an impressive compound annual growth rate (CAGR) of 29.9% between […]
China continues to lead global e-commerce market with over $2 trillion sales in 2022, says GlobalData
China’s e-commerce market, the world’s largest, is expected to register a strong growth of 10.4% in 2022, as consumers are increasingly shifting from offline to online. The market is expected to grow by 10.4% in 2022 to reach CNY14.5 trillion ($2.3 trillion), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s E-Commerce Analytics, […]
Card payments in Malaysia to grow by 15.2% in 2022, forecasts GlobalData
The Malaysian card payments market is set to record a robust growth of 15.2% in 2022, supported by the gradual rise in consumer spending, government’s financial inclusion measures, and increasing preference for contactless payments, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, the value of card payments in Malaysia […]
Cryptocurrencies account for less than 1% of HNW investors portfolio in Asia-Pacific, says GlobalData
Alternative investments account for 12% of the high-net worth individuals’ (HNWI) investment portfolio in Asia-Pacific, with cryptocurrencies accounting for a mere 0.7% share, says GlobalData, a leading data and analytics company. GlobalData had carried out ‘Global Wealth Managers Survey Q2 2021’ with 360 wealth management executives across 19 countries to gather their views on a […]
BNPL acquisitions expected amid shrinking valuations, says GlobalData
Major buy now pay later (BNPL) providers have been unable to make a profit over the last few years as the current model of the BNPL industry is not sustainable and the current economic conditions are likely to make it more difficult for BNPL providers, which is contributing to providers’ valuations shrinking, says GlobalData. However, […]
RBI new restriction on fintechs offering credit in collaboration with non-banks will affect BNPL market in India, says GlobalData
The Reserve Bank of India’s (RBI) recent regulation barring fintech companies from loading prepaid payment instruments (PPIs) such as prepaid cards and mobile wallets using credit offered by non-bank institutions is expected to affect the existing business model of buy now pay later (BNPL)/ non-bank entities in the short-term, says GlobalData, a leading data and […]
Meta could use some of Novi’s resources to develop a digital wallet for its metaverse, says GlobalData
A mere seven months after selling off the assets of its digital currency Diem, Meta has announced that it will retire its digital wallet Novi on September 1, 2022. GlobalData notes that, beside Meta’s shift towards metaverse projects, one of the main reasons for this decision is that both Novi and Diem were plagued with […]
Card payments in South Korea to surpass $1 trillion in 2026, forecasts GlobalData
Card payments in South Korea are set to grow at a compound annual growth rate (CAGR) of 4.9% between 2022 and 2026 to reach KRW1,346.5 trillion ($1.1 trillion) in 2026, forecasts GlobalData, a leading data and analytics company. South Korea is among the few nations that effectively handled the COVID-19 pandemic compared to other developed […]
Alternative payments account for two-thirds of e-commerce market in India, reveals GlobalData
Alternative payments methods such as mobile and digital wallets completely dominate the e-commerce space in India. They have displaced cash and cards to emerge as the most popular online payment method, accounting for two-thirds of India’s e-commerce market in 2022, finds GlobalData, a leading data and analytics company. An analysis of GlobalData’s E-Commerce Analytics reveals […]
GlobalData forecasts Singapore credit and charge card payment market to reach nearly $60 billion in 2025
Singapore’s economy, which contracted by 5.4% in 2020, had recovered in 2021 with GDP registering a 7.2% growth, supported by the government’s stimulus program, and accelerated nationwide vaccination rollout. As a result, Singapore’s credit and charge card payment market is set to grow at a compound annual growth rate of 6.5% between 2021-2025 to reach […]