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Card payment value in Indonesia set to cross US$57bn in 2023, says GlobalData

The Indonesian market remains heavily cash-reliant with limited awareness of electronic payments and inadequate payment infrastructure. However, the country is making gradual progress to reduce cash dependence, with card payments value set to increase from IDR639.9 trillion (US$44.5bn) in 2019 to IDR821.2 trillion (US$57.1bn) in 2023, according to GlobalData, a leading data and analytics company. […]
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Philippines e-commerce market set to reach US$7bn in 2023, says GlobalData

Growing number of smartphone users and favorable government initiatives are set to drive the Philippines’ e-commerce market at a compound annual growth rate (CAGR) of 15.7% from an estimated PHP205.5bn (US$3.9bn) in 2019 to PHP368.3bn (US$7.0bn) in 2023, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s E-Commerce Analytics reveals that […]
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Card payments in Malaysia set to cross US$80bn by 2023, says GlobalData

Malaysia remains a cash-dominant economy with majority of consumer payments still carried out using cash. However, the country is making steady progress to reduce cash dependence, as 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. […]
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Sentiment slips as Royal Bank of Scotland suffers loss in Q3 2019, says GlobalData

With payment protection insurance (PPI) payout provision and the underperformance of Natwest Markets wiping out profits, the overall sentiment score for The Royal Bank of Scotland Group plc (RBS) was significantly down in the third quarter (Q3) of 2019, says GlobalData, a leading data and analytics company. GlobalData’s Company Filing Analytics platform, which analyzes and […]
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China will continue to lead Asia’s retail lending market over next five years, reveals GlobalData

China’s retail lending market, which registered strong growth during 2014–18, will continue to lead the Asian retail lending market with a compound annual growth rate (CAGR) of 13.7% during 2019–23, says GlobalData, a leading data and analytics company. According to GlobalData’s report, ‘China Retail Banking: Opportunities and Risks to 2023’, China’s total loan balances outstanding […]
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Growing affluent population in Indonesia presents significant opportunity for wealth managers, says GlobalData

The anticipated growth in affluent population in Indonesia, comprising mass affluent (holding liquid assets of US$50,000–1m) and high-net-worth (HNW) population (holding liquid assets of more than US$1m) individuals, over the next three years represents a significant opportunity for wealth managers to capitalize on, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, […]
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SCA rules to boost mobile payments in the UK

Following the news that the Strong Customer Authentication rules launched in the UK on Saturday 14th September, Samuel Murrant, Senior Payments Analyst at GlobalData, a leading data and analytics company, offers his view on the change: “The new EU rules will undermine the convenience of contactless card transactions, potentially providing an opportunity for mobile wallets […]
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Card payments will surpass cash in South Korea by 2020, says GlobalData

The South Korean card market is well developed with high card penetration and frequency of card payments. Cards are expected to surpass cash in terms of payment volume to become the dominant payment instrument by 2020, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘South Korea Cards & Payments: Opportunities and Risks […]
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