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The Kenyan mobile wallet payments market is forecast to grow by 5.7% in 2024 to reach KES8.4 trillion ($60.1 billion), supported by an accelerated consumer shift towards digital payment methods, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Instrument Analytics reveals that mobile wallet payments value in Kenya registered a compound annual […]
Payment cards account for over half of e-commerce payments in US, reveals GlobalData
Payment cards are the preferred payment method for e-commerce purchases in the US, collectively accounting for 56.3% share in 2023, finds the 2023 Financial Services Consumer Survey* conducted by GlobalData, a leading data and analytics company. GlobalData’s E-Commerce Analytics reveal that e-commerce market in the US grew by 9.8% in 2023 to reach $2 trillion, […]
South Korea card payments market to reach almost $1 trillion in 2024, forecasts GlobalData
The South Korean card payments market is forecast to grow by 5.9% in 2024 to reach KRW1,272.4 trillion ($974.3 billion), supported by high consumer preference for electronic payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payment value in South Korea registered a growth of 12.7% in […]
Cross-border real-time payments make tangible progress as over 50% consumers use them, says GlobalData
Cross-border payments are becoming increasingly important to international economies. Around 63% of global consumers use international real-time payments (RTPs) services to send money to family and friends and 51% use them only to pay for goods and services, according to the 2024 Financial Services Consumer Survey* conducted by GlobalData, a leading data and analytics company. […]
Canada card payments market to grow by 7.7% in 2024, forecasts GlobalData
Canada’s card payments market is forecast to grow by 7.7% in 2024 to reach CAD1.2 trillion ($913 billion), supported by high consumer preference for electronic payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payment value in Canada registered a growth of 14.4% in 2022, driven by […]
South Africa card payments market to reach $125 billion in 2024, forecasts GlobalData
South Africa’s card payments market is forecast to grow by 11.4% in 2024 to reach ZAR2.3 trillion ($125 billion), supported by a constant consumer shift towards non-cash payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payment value in South Africa registered a growth of 13.4% in […]
US card payments market to grow by 5% in 2024, forecasts GlobalData
The US card payments market is forecast to grow by 5% in 2024 to reach $10.6 trillion, supported by high consumer preference for electronic payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payment value in US registered a growth of 12.3% in 2022, driven by the […]
Philippines card payments market to surpass $60 billion in 2024, forecasts GlobalData
The Philippines card payments market is expected to grow by 17.2% to reach PHP3.4 trillion ($61.1 billion) in 2024, supported by a constant consumer shift towards non-cash payments, says GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payments value in the Philippines reached PHP2.9 trillion ($52.1 billion) in 2023, […]
The Changing Offshore Investment Landscape: Join GlobalData’s webinar
Despite the ongoing discussions about deglobalization following the US-China trade war and the COVID-19 pandemic, there is no evidence of negative impact on the global offshore investment market. Currently, 42.5% of high-net-worth (HNW) wealth is allocated to offshore accounts. However, the factors driving these investments and the preferences for specific offshore booking centers vary significantly […]
Credit and charge card payments in Hong Kong to surpass HDK1 trillion in 2024, forecasts GlobalData
The Hong Kong (China SAR) credit and charge card market is set to grow by 15.6% to reach HKD1.02 trillion ($130.6 billion) in 2024, supported by rising consumer spending. With a strong payment infrastructure and burgeoning e-Commerce landscape, credit and charge cards are becoming increasingly favored among the Hong Kong consumers. This trajectory signifies a […]
Belgium card payments market to grow by 5.6% in 2024, forecasts GlobalData
The Belgium card payments market is forecast to grow by 5.6% in 2024 to reach EUR152 billion ($164.3 billion), supported by high consumer preference for electronic payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payment value in Belgium registered a growth of 11.8% in 2022, driven […]
Alternative payment tools lead e-Commerce payments in Asia-Pacific, finds GlobalData
Alternative payments are the most popular payment tools for e-Commerce payments in Asia-Pacific (APAC), with payment solutions such as mobile and digital wallets displacing traditional payment methods like cash and bank transfers. China led the way in 2023, with alternative payments accounting for nearly two-thirds of the total e-Commerce payments value in 2023, says GlobalData, […]
Mobile wallet market in Australia to surpass $100 billion in 2024, forecasts GlobalData
Mobile wallet adoption is growing at a fast pace in Australia with the value of mobile wallet transactions expected to grow by 42.2% in 2024 to reach AUD209 billion ($138.8 billion), supported by accelerated consumer shift towards non-cash payment methods, forecasts GlobalData, a leading data and analytics company. GlobalData reveals that the value of mobile […]
China card payments market to reach nearly $20 trillion in 2024, forecasts GlobalData
The Chinese card payments market is expected to grow by 3.7% to reach CNY141.1 trillion ($19.9 trillion) in 2024, supported by a constant consumer shift towards non-cash payments, says GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payments value in China reached CNY136.0 trillion ($19.2 trillion) in 2023, registering […]
Thailand e-commerce payments to surge by 13.7% in 2024, forecasts GlobalData
The Thailand e-commerce market is growing at a fast pace and is expected to surge by 13.7% in 2024, driven by growing consumer preference for online shopping and strong internet penetration, reveals GlobalData, a leading data and analytics company. GlobalData’s E-Commerce Analytics reveals that Thailand e-commerce market registered a compound annual growth rate (CAGR) of […]
Sweden card payments market to grow by 8.3% in 2024, forecasts GlobalData
The Sweden card payments market is forecast to grow 8.3% in 2024 to reach SEK1.5 trillion ($138.3 billion), supported by high consumer preference for electronic payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payment value in the Sweden registered a growth of 11.7% in 2022, driven […]
Philippines e-commerce payments to surge by nearly 20% in 2024, reveals GlobalData
The Philippines e-commerce market is growing at a fast pace and is expected to surge by 19.6% in 2024, driven by growing consumer preference for online shopping and strong internet penetration, finds GlobalData, a leading data and analytics company. GlobalData’s E-Commerce Analytics reveals that Philippine e-commerce market registered a compound annual growth rate (CAGR) of […]
UOB poised to capitalize on ASEAN’s booming mass affluent segment, says GlobalData
More than ever before, banks worldwide have the opportunity to tap into the lucrative Association of Southeast Asian Nations (ASEAN) mass affluent market. Banks such as HSBC, DBS, and United Overseas Bank (UOB) have been leading the way with their premium services. UOB’s focus to build upon its mass affluent clientele looks to be working […]
Finland card payments market to grow by 6.2% in 2024, forecasts GlobalData
The Finland card payments market is forecast to grow by 6.2% in 2024 to reach EUR72.1 billion ($78.0 billion), supported by high consumer preference for electronic payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payments value in the Finland registered a growth of 11.6% in 2022, […]
Mobile wallets dominate China payment landscape with over 84% user adoption, reveals GlobalData
Mobile wallets have become the dominant payment method in China, with over 84% of users utilizing them for transactions in the past year. This surge is driven by widespread smartphone and internet accessibility, QR code-based payment adoption, and the popularity of domestic brands like Alipay and WeChat Pay, according to GlobalData, a leading data and […]