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Philippines’ card payments market will reach $55.7 billion by 2025 following easing of COVID-19 restrictions, forecasts GlobalData

Following the COVID-19 pandemic, the Filipino card payments market is on the road to recovery supported by economic revival and a rise in consumer spending. The country’s card payments market is expected to register strong growth of 11.6% in 2022 reaching PHP2.2 trillion ($44 billion), found GlobalData, a leading data and analytics company. Ravi Sharma, […]
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Credit card payments via UPI have potential to disrupt Indian consumer payments space, observes GlobalData

India’s recent proposal to allow credit card payments through unified payments interface (UPI) will further boost credit card acceptance in the country, says GlobalData, a leading data and analytics company. UPI has become a mainstream payment method in India, gradually displacing traditional cash payments. Launched in 2016, UPI has revolutionized the Indian payments space, enabling […]
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Japan’s credit card payment to reach nearly US$900 billion in 2025 following the easing of COVID-19 restrictions, forecasts GlobalData

Improving economic conditions and rising consumer spending following the easing of COVID-19 restrictions will drive the growth of the Japanese credit card payments market by 7.8% in 2022, according to GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics database, the value of credit card payments in Japan is estimated to […]
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Card payments in the UAE to grow by 9.4% in 2022 following post-pandemic recovery, says GlobalData

The United Arab Emirates’ (UAE) card payments market is set to grow by 9.4% in 2022. Although the COVID-19 pandemic impacted consumer spending in general, it has propelled the shift in consumer preference towards cashless payment methods, observes GlobalData, a leading data and analytics company. Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “The […]
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Mobile wallets go mainstream in South Korea consumer payments market, observes GlobalData

Mobile wallet payments are becoming the ‘mainstream’ payment method in South Korea, gradually displacing traditional payments such as cash and cards, with nearly two-thirds of South Koreans using mobile wallets at shops, according to GlobalData, a leading data and analytics company. According to GlobalData’s 2021 Financial Services Consumer Survey*, which was carried out in Q1 […]
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Asia-Pacific credit and charge cards market to grow by 13.7% in 2022, forecasts GlobalData

Credit and charge cards market in Asia-Pacific (APAC) is poised to register a significant growth of 13.7% in 2022, supported by recovery in economic conditions, rising consumer disposable income, and growing preference towards electronic payments, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, credit and charge card payments value […]
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Alternative payments to disrupt Philippines e-commerce payments market, says GlobalData

Alternative payment tools have emerged as mainstream for e-commerce payments in the Philippines and accounted for 30.7% in total e-commerce value in 2021, with mobile and digital wallets displacing traditional payment methods like cash and cards, says GlobalData, a leading data and analytics company. An analysis of GlobalData’s E-Commerce Payments Analytics reveals that the e-commerce […]
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Equities, mutual funds to drive Singapore affluent population growth at 3.7% AAGR between 2022-2026, forecasts GlobalData

The Singaporean wealth market remains resilient and continues to grow despite the impact of COVID-19, with the affluent population witnessing 4.5% growth in 2021. With the country’s economy coming out of the ill-effects of COVID-19, this population segment, which includes mass affluent investors (holding liquid assets of US$50,000–$1m) and high-net-worth (HNW) individuals (holding liquid assets […]
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Top 25 banks by market capitalization continued to maintain stability in their market values in Q1 2022 despite Russia-Ukraine crisis, says GlobalData

Amid the ongoing Russia-Ukraine crisis, the aggregate market capitalization (MCap) of the global top 25 banks remained stable at $3.8 trillion in Q1 2022*, according to GlobalData. The leading data and analytics company notes that not only did 15 out of the 25 banks report growth over Q4 2021**, but the most impressive performers—Mitsubishi UFJ, […]
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Crypto firms continue to clash with governments over regulations, says GlobalData

In response to the news that crypto business leaders are objecting to EU proposals to regulate cryptocurrencies, including requiring crypto firms to disclose transaction details; Amrit Dhami, Associate Analyst in the Thematic Research team at GlobalData, comments: “Anonymity is big within the world of cryptocurrency, from the anonymous crypto wallets to the creative pseudonyms of […]
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