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Freshfields Bruckhaus Deringer and CMS were the top mergers and acquisitions (M&A) legal advisers in Europe for 2020 by value and volume, respectively. Freshfields Bruckhaus Deringer advised on 76 deals worth US$157.8bn, which was the highest value among all the advisers. Meanwhile, CMS led in volume terms having advised on 244 deals worth US$18bn. A […]
Indonesia’s e-commerce market continues to surge amid COVID-19 pandemic, says GlobalData
Indonesia is a promising e-commerce market in Asia-Pacific, with several local and global players competing in the market. Rising Internet penetration, increasing digitalization and the proliferation of websites have been driving e-commerce growth. The COVID-19 pandemic has further accelerated e-commerce sales in Indonesia, according to GlobalData, a leading data and analytics company. An analysis of […]
Card payments to rise in New Zealand following lifting of lockdown restrictions, says GlobalData
New Zealand is among the few countries globally that have been successful in combating the COVID-19 outbreak. With the government lifting lockdown restrictions, a rise in consumer and commercial spending is expected, which will push card payments, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s Payment Cards Analytics reveals that […]
Vietnam’s e-commerce market to reach US$13.1bn in 2020, says GlobalData
Vietnam is one of the fastest growing e-commerce markets in the Asia-Pacific region, driven by young population, growing middle class, growing Internet penetration and rising smartphone penetration. The COVID-19 pandemic and the subsequent social distancing measures have further accelerated the e-commerce growth. As a result, e-commerce sales in the country are set to grow by […]
Taiwan card payments to rise 5.6% in 2020 despite COVID-19, reveals GlobalData
Card payments in Taiwan are expected to register an annual growth of 5.6% in 2020, as the COVID-19 pandemic has accelerated the push towards electronic payments, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s Payment Cards Analytics reveals that card payments in Taiwan are expected to grow at a compound […]
Card payments in Hong Kong to register subdued growth of 1.2% in 2020, forecasts GlobalData
The lockdown and social distancing measures in Hong Kong due to COVID-19 has resulted in the closure of businesses and decline in consumer spending. As a result, card payments are estimated to register a subdued 1.2% growth this year, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, card payments […]
Card payments in Vietnam to slowdown in 2020 as consumer spending plummets, says GlobalData
COVID-19 had impacted the Vietnam’s economy with reduced consumer spending, affecting the overall growth of the card payments market. The gradual reopening of businesses and easing of lockdown restrictions will provide the much-needed push to the country’s economy, which will positively impact the payment industry, says GlobalData, a leading data and analytics company. According to […]
COVID-19 accelerates e-commerce growth in Taiwan, says GlobalData
E-commerce sales have been on a consistent growth trajectory for the last few years in Taiwan. The ongoing COVID-19 pandemic and the subsequent social distancing measures undertaken by the government have further accelerated the e-commerce growth in the country, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s E-Commerce Analytics reveals […]
WhatsApp Pay will intensify competition in payments market in India, says GlobalData
India has a well-developed instant payment infrastructure. Immediate Payment Service (IMPS) was launched in 2010 followed by Unified Payments Interface (UPI) in 2016. While the former is primarily used for fund transfers, the latter is mostly preferred for day-to-day payments thereby benefitting mobile payment brands like PhonePe and Google Pay. Against this backdrop, the entry […]
Ongoing Singles Day event to further accelerate e-commerce growth in China, says GlobalData
The Chinese e-commerce market is the largest globally, with its strong growth even in 2020 supported by robust payment tools specialized for remote channels, developed logistical infrastructure and high levels of consumer preference for online shopping. This trend has been further accelerated by the COVID-19 outbreak. The ongoing Singles Day event, one of the largest […]
Mobile wallet transactions in India to exceed INR100 trillion in 2024, says GlobalData
Mobile wallet adoption is gradually displacing traditional payments such as cash and cards in India. This has become even more prevalent during the current COVID-19 crisis and as a result mobile wallet transaction is expected to surpass INR100 trillion (US$1.40 trillion) in 2024, according to GlobalData, a leading data and analytics company. An analysis of […]
Easing of travel restrictions to provide much needed push to card payments in Thailand, says GlobalData
COVID-19 has had a profound effect on the Thailand tourism industry with reduced tourism spending. However, the gradual reopening of travel will provide the much-needed push to the country’s economy, which in turn will positively impact the country’s payment industry, says GlobalData, a leading data and analytics company. According to GlobalData’s Payment Cards Analytics, card […]
Card payments in Indonesia to slowdown in 2020 as consumer spending plummets, forecasts GlobalData
COVID-19 pandemic has hit the Indonesian payment market as consumers are staying away from non-essential purchases and as a result, card payments value will register a subdued growth of 1.7% in 2020, forecasts GlobalData, a leading data and analytics company. An analysis of GlobalData’s Payment Cards Analytics reveals that the market, however, is expected to […]
COVID-19 accelerates e-commerce growth in South Korea, says GlobalData
South Korea is one of the most developed e-commerce markets globally. The ongoing COVID-19 pandemic and the subsequent lockdown and social distancing measures undertaken by government have further accelerated e-commerce sales in the country, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s E-Commerce Analytics reveals that the country’s e-commerce market […]
Banks should allow branch design teams to experiment to develop a proposition that attracts young customers, says GlobalData
Banks have previously been too conservative in sticking to their core brand image, but innovative design can be key to attracting younger customers in a post-pandemic world, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘Forming an Early Connection: Insight into Children’s Banking’, shows that breaking away from traditional branding can yield […]
Post-COVID-19 consumers will remain anxious going forward, says GlobalData
The outlook of consumers around the world is improving, but significant concern remains that will depress consumer credit demand and risk appetite well into the post-pandemic recession, according to GlobalData. Andrew Haslip, Head of Wealth Management at GlobalData, comments: “GlobalData tracked consumers around the world during the main lockdown periods, and found that consumers’ view […]
Fintechs must rethink revenue models in post-COVID-19 era, says GlobalData
Global day-to-day purchases have seen a drastic reduction, even though e-commerce is booming. This, coupled with regulatory changes – such as the Bank of England reducing interest rates from 0.75% to 0.1% – means banks have experienced declining revenues. Therefore, many banks will have to adapt business models to the realities of pandemic-centred economies by […]
Focusing on financial wellness will help banks understand the true risk of their businesses, says GlobalData
The COVID-19 crisis has shown it is more important than ever for banks to be able to gauge and help improve the financial wellbeing of their customers, says GlobalData, a leading data and analytics company. Katherine Long, Banking Analyst at GlobalData, commented: “The first half of 2020 has created significant problems for UK banks and […]
Card payments continue to rise in Malaysia amid COVID-19, reveals GlobalData
Malaysia has traditionally been a cash-dominant society. However, the COVID-19 pandemic has accelerated Malaysia’s push towards electronic payments, with card payments at point of sale (POS) terminals continuing to rise, according to GlobalData, a leading data and analytics company. According to GlobalData estimates, card payments in Malaysia will grow by 4.3% to reach MYR214.4bn (US$52.4bn) […]
Mobile banking and telephone channel gain prominence during COVID-19 pandemic
COVID-19 has highlighted the importance of human contact to solve problems, as the telephone channels have seen a rise in use, according to GlobalData, a leading data and analytics company. Sean Harrison, Lead Banking Analyst at GlobalData, comments: “The number of active telephone banking customers has almost doubled since 2017, indicating that digital channels are […]