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Canada’s card payment market, which has been on the rise for the past few years, registered a decline of 2.8% in 2020 due to COVID-19 with reduced consumer and commercial spending. However, with the gradual recovery in economic activities, card payments are expected to rise by 6.8% to reach C$872.3bn (US$683.9bn) in 2021, according to […]
Card payments in Malaysia to rebound with 10.6% growth in 2021, forecasts GlobalData
The Malaysian card payments market, supported by a gradual rise in consumer spending, is set to rebound strongly registering 10.6% growth in 2021 after a slowdown in 2020 due to COVID-19 pandemic, says GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, the value of card payments in Malaysia recorded a […]
Card payments in South Africa set to rise by 7.6% in 2021, says GlobalData
The South Africa card payment market, which has been on the rise for the past few years, registered a subdued growth of 3.7% in 2020 due to COVID-19 with reduced consumer and commercial spending. However, with the gradual recovery in economic activities, card payments are expected to rise by 7.6% to reach ZAR1.4 trillion (US$97.3bn) […]
China’s wealth market growth continues to drive affluent population growth, says GlobalData
The Chinese wealth market remains resilient and continues to grow despite the impact of COVID-19, driving the Chinese mainland affluent population growth. This population, including the mass affluent investors (holding liquid assets of US$50,000–$1m) and High-net-worth (HNW) individuals (holding liquid assets of more than US$1m), is expected to grow by 9.0% to reach 58.2 million […]
Mir is breaking Mastercard and Visa duopoly in Russia by eroding their market shares and establishing itself as a strong payment service provider, says GlobalData
As of 2020, 74.6 million debit cards were issued by Mir, representing 28.62% of all debit cards in circulation Since 2016, while international schemes lost their market shares in the debit card space, Mir’s market share has risen to 25.3% in terms of transaction value. US and EU sanctions imposed on Russia in 2014 were […]
Hong Kong’s card payment market to grow by 4.4% in 2021, forecasts GlobalData
Hong Kong card payments market, which registered subdued growth in 2020 due to the COVID-19 pandemic, is expected to rebound with the gradual economic recovery, rise in consumer spending and the launch of COVID-19 vaccination program and grow at 4.4% to reach HK$1,112.5bn (US$143.5bn) in 2021, forecasts GlobalData, a leading data and analytics company. According […]
Lyon, Paris, Madrid, Barcelona, London and Manchester to witness faster economic recovery in 2021, says GlobalData
The easing of lockdown restrictions and effective rollout of vaccines have boosted market sentiment in Europe. With economic recovery gathering pace, the combined real GDP of the 20 major Western European metropolitan areas is forecasted to grow by 4.34% for 2021, according to GlobalData, a leading data and analytics company. Among the most affected regions, […]
Pakistan’s card payment market to grow by 12.3% in 2021, forecasts GlobalData
The card payments market in Pakistan is set to grow by 12.3% in 2021 with expected economic recovery from the COVID-19 pandemic. The growth will be supported by government’s financial inclusion initiatives and gradual improvement in payment infrastructure, says GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, the value of […]
Chinese banking giants fared better than US and European counterparts during COVID-19, says GlobalData
In 2020, the total assets of the top 25 banks globally by revenue saw an average year-on-year (y-o-y) growth rate of 11.1%. However, this healthy growth only translated into subdued average growth rates of -3.3% and 5% in revenue and net profit, respectively. Chinese banks appear to be doing much better than their US and […]
Payment remains lucrative investment avenue in APAC for venture capitalists during Q1 21, finds GlobalData
With consumers embracing financial technologies, digital payments firms are fast disrupting the hegemony of traditional players in the payment value chain globally, a trend which is more prevalent in Asia-Pacific (APAC) markets such as China and India. Against this backdrop, payment segment is emerging as a lucrative investment avenue for venture capitalists (VCs), according to […]
Card payments in China to rebound with 21.3% growth in 2021, forecasts GlobalData
Card payments in China have been on a sustained growth for the last few years. While the growth was affected by the COVID-19 pandemic in 2020, it is set to rebound with a 21.3% growth in 2021, says GlobalData, a leading data and analytics company. Nikhil Reddy, Payments Senior Analyst at GlobalData, comments: “Card payments […]
Banks back on track as market value growth picks up pace in Q1 2021, says GlobalData
The top 25 global banks* picked up from where they left off in Q4 2020 (ended 31 December 2020) and reported 15.6% growth in their aggregate market values in Q1 2021 (ended 31 March 2021), says GlobalData, a leading data analytics and research company. The aggregate market cap of the banks increased to $3.8 trillion […]
Low-value deals dominated global VC funding landscape in Q1 2021 but loses share
Low-value deals (where the investment was less than or equal to $10m) accounted for the majority of global venture capital (VC) investment volume during the first quarter (Q1) of 2021, according to GlobalData, a leading data and analytics company. A total of 5,093 deals with disclosed funding value were announced globally during Q1, of which […]
Low-value deals dominated global VC funding landscape in Q1 2021 but loses share, finds GlobalData
Low-value deals (where the investment was less than or equal to $10m) accounted for the majority of global venture capital (VC) investment volume during the first quarter (Q1) of 2021, according to GlobalData, a leading data and analytics company. A total of 5,093 deals with disclosed funding value were announced globally during Q1, of which […]
Card payments in Singapore will rebound in 2021 with improving economic conditions, forecasts GlobalData
Card payments in Singapore, which have seen sustained growth in the last few years, registered a decline in 2020 amid the COVID-19 pandemic. They are set to rebound in 2021 with a 10.2% growth due to improving economic conditions and reducing impact of the pandemic, forecasts GlobalData, a leading data and analytics company. According to […]
Government measures and upcoming global sporting events to drive card payments in Japan, says GlobalData
Card payments in Japan are set to rise by 9.5% in 2021 supported by improving economic conditions, rising consumer spending and the upcoming international sports events, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, with the reopening of the economy, government measures to encourage electronic payments, easing of travel […]
E-commerce market in China will reach US$3 trillion in 2024, forecasts GlobalData
The Chinese e-commerce market is set to register a strong compound annual growth rate (CAGR) of 12.4% from CNY13.8 trillion (US$2.1 trillion) in 2021 to CNY19.6 trillion (US$3.0 trillion) in 2024, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s E-Commerce Analytics, e-commerce sales in China are expected to register a robust growth […]
Entry of privately-owned new umbrella entities to disrupt retail payment space in India, says GlobalData
The approval of new umbrella entities (NUE) licensing by the Reserve Bank of India (RBI) will lead to increased private participation in the Indian digital payments space, which is currently dominated by state-owned National Payments Corporation of India (NPCI) via its UPI payment system, according to GlobalData, a leading data and analytics company. To further […]
Global deal activity shows signs of improvement, registers 11% growth in March 2021, finds GlobalData
A total of 5,566 deals (comprising mergers & acquisitions, private equity, and venture financing deals) were announced globally during March 2021, which is an increase of 11% over 5,013 deals announced during the previous month, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Global deal activity has remained […]
Card payments in Philippines will recover strongly with 15.4% growth in 2021, forecasts GlobalData
Card payments in the Philippines, which witnessed a -7.4% slump in 2020, are all set to rebound strongly with 15.4% growth in 2021, with a gradual recovery in consumer and commercial spending, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, the value of card payments in Philippines is forecast […]