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Banking

Card payments in Thailand to rebound from 2023, says GlobalData

Thailand is among the worst affected Southeast Asian countries by the COVID-19 pandemic. Payment card transactions value, which registered robust growth in the last few years, declined by 11.7% in 2020, as consumer spending declined. The decline is likely to continue in 2021 as well due to ‘third wave’. As a result, the country’s payment […]
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Competition for mass affluent individuals is fiercer than ever among providers as digital entrants make their mark, says GlobalData

As the historically paper-based wealth management industry undergoes a long-awaited digital transformation, mass affluent customers are now open to a wider range of providers managing their investments. Traditional players must step up their digital services or lose out on this underserved investor segment, says GlobalData, a leading data and analytics company. Sergel Woldemichael, Wealth Management […]
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Square looks to expand into booming buy now pay later market in Asia-Pacific with Afterpay acquisition, says GlobalData

Following the news that Square, Inc has agreed to buy Australia’s ‘buy now, pay later’ solution (BNPL) provider Afterpay Limited for US$29bn; Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, a leading data and analytics company, offers his views: “Buy now, and pay later (BNPL) has been gaining prominence in Asia-Pacific with large number […]
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Argentina beginning to embrace card over cash, with total payments expected to reach $200bn by 2024, says GlobalData

While cash has traditionally been the most preferred payment method in Argentina, consumers are now gradually embracing electronic payments, according to GlobalData. The leading data and analytics company notes that the rise in e-commerce and contactless payments amid the COVID-19 pandemic will drive card payments, which are expected to grow to reach ARS16.8 trillion ($199.8bn) […]
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Card payments in Saudi Arabia to grow by 29.6% in 2021

Saudi Arabia’s card payments market, which has registered sustained growth for the past few years, is set to increase strongly by 29.6% in 2021. The increasing preference for electronic payments amid the COVID-19 pandemic and a surge in contactless payments are likely to drive the country’s card payments market between 2021 and 2025 at a […]
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Card payments in Hungary to grow by 13.3% in 2021, says GlobalData

Hungary’s card payments market, which has registered sustained growth for the past few years, is set to increase by 13.3% in 2021, according to GlobalData, a leading data and analytics company. Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “Although Hungary is traditionally a cash-dominated society, payment cards are gaining popularity at the […]
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COVID-19 pandemic enables top payment companies to achieve improved top-lines based on upscaled transaction volumes, says GlobalData

The COVID-19 pandemic accelerated the acceptance of digital payments across the globe in 2020, which rendered an improvement in the top-line performance of the majority of the top 20 public payment companies despite unprecedented economic slowdown, says GlobalData, a leading data and analytics company. Over the previous year, the companies that recorded impressive top-line growths […]
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A cashless world is still a long way from reality, says GlobalData

The much discussed ‘cashless society’ is coming closer to reality across the world amid changing consumer attitudes and widespread technological adoption. However, while some markets such as Sweden, the UK, and several countries in Asia-Pacific (APAC) have adopted cashless payments quite swiftly over the last few years, many are still progressing very slowly. Different markets […]
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Global deal activity declined by 16.8% in May 2021, finds GlobalData

A total of 3,929 deals (comprising mergers & acquisitions (M&A), private equity, and venture financing deals) were announced globally during May 2021, which is a decline of 16.8% over 4,720 deals announced during the previous month, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s Financial Deals Database revealed that the […]
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