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GlobalData

Banking

US cash payments to decline by 4.5% between 2019 and 2023 due to COVID-19

The rapidly rising number of coronavirus (COVID-19) cases in the US has caused an economic slowdown in the country, which has resulted in the number and value of expected transactions being significantly reduced – largely due to a substantial fall in cash transactions, says GlobalData, a leading data and analytics company. Pre-COVID-19, GlobalData forecasts saw total transactions rising at a compound annual growth rate (CAGR) of 7.6% between 2019 and 2023. However, this […]
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Lay-offs and pay cuts on the cards for businesses across most industries, says GlobalData

The COVID-19 outbreak, which has resulted in travel restrictions and lockdowns in several countries, has negatively impacted businesses across almost all industries. The economic impact of COVID-19 and uncertainty over when normal operations can resume is weighing heavily on industries. This has resulted in some companies considering lay-offs and others pay cuts, according to GlobalData, […]
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Singapore increasingly going digital amid Covid-19 outbreak, says GlobalData

The push for digital payments and the fear of coronavirus (Covid-19) spread through the handling of cash are driving the adoption of electronic payments in Singapore, says GlobalData, a leading data and analytics company. Supported by various government measures to promote electronic payments and robust payments infrastructure, the country will continue to make steady progress […]
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Coronavirus wreaks havoc on dividend payments, finds GlobalData

The financial devastation caused by the COVID-19 outbreak is forcing companies across sectors to slice dividends, says GlobalData, a leading data and analytics company. Reeling from the effects of the outbreak, investors are bracing for impacts comparable to the 2008 crisis. Dividend slicing is an indication of the ominous financial impact. As tracked by GlobalData’s […]
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Cash transactions in China to see negative growth up to 2023 due to Covid-19 outbreak, says GlobalData

China is the epicenter of the coronavirus (Covid-19) pandemic and its impact on the country’s payments industry is that cash transactions will see significant decline while card payments continue to grow over the next four years, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘Covid-19 Impact on the Payments Industry: China Forecast […]
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Vietnam’s e-commerce market to surpass US$17bn in 2023, says GlobalData

Rising Internet and smartphone penetration coupled with a large young population will propel Vietnamese e-commerce market. It is project to grow at a compound annual growth rate (CAGR) of 16.3% from VND218.3 trillion (US$9.4bn) in 2019 to VND399.5 trillion (US$17.3bn) in 2023, according to forecast from GlobalData, a leading data and analytics company. GlobalData’s latest […]
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Singapore card payments to reach US$116bn in 2023, says GlobalData

Singapore is a mature payment card market with the average Singaporean holding more than three cards. Boosted by the government’s push towards a cashless society, growing consumer awareness and improving payment infrastructure, card payments in Singapore is set to grow from S$111.9bn (US$82.1bn) in 2019 to S$158bn (US$116bn) in 2023, according to GlobalData, a leading […]
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India’s recent move to abolish merchant charges on RuPay cards will further drive shift towards electronic payments, says GlobalData

India has traditionally been a cash-dominant society, a scenario that is changing gradually with a series of government measures to promote electronic payments. The country is making steady progress in reducing its dependence on cash, with its share in total payments volume expected to decline from 79.8% in 2019 to 54.1% in 2023, says GlobalData, […]
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UK leads charge in many fintech areas as e-commerce accounts for $3.5 trillion of worldwide sales, says GlobalData

Following the news that the UK’s cash system is at risk; Vlad Totia, Payments Analyst at GlobalData, leading data and analytics company, offers his view: “The UK, and specifically London, has really geared up its tech scene, and the digitization of money has not been left behind. Arguably the global capital for online banking, the UK is leading the charge in […]
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QR code-based mobile payments to aid shift towards cashless payments in Malaysia, says GlobalData

Malaysia is making steady progress to reduce cash dependence with growing adoption of electronic payments. The total card payments’ value is set to increase from MYR208.2bn (US$50.4bn) in 2019 to MYR334.9bn (US$81bn) in 2023, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘Malaysia Cards & Payments: Opportunities and Risks to 2023’, reveals […]
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New Zealand’s retail lending to cross US$265bn in 2023, finds GlobalData

New Zealand’s retail lending market is expected to record a healthy growth over 2019–23 to reach NZ$395.9bn (US$265.6bn) in 2023, according to GlobalData, a leading data and analytics company. According to GlobalData’s latest report, ‘New Zealand Retail Banking: Opportunities and Risks to 2023’, New Zealand’s total retail loan balance outstanding (including credit card, personal loan, […]
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Early stage funding rounds dominated VC investments volume in Europe during Q4 2019

Europe experienced an increase in the volume of early stage (Seed and Series A rounds) venture capital (VC) deals in the fourth quarter (Q4) of 2019 compared to Q4 2018 and these deals also continued to account for a dominant share of VC investments volume during both quarters, according to GlobalData, a leading data and analytics company. The number of early stage funding rounds in Europe increased from 276 deals worth US$1.2bn in Q4 2018 to 313 deals worth US$1.4bn in Q4 2019. These deals accounted for more than 80% […]
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