As use of alternative payments is skyrocketing, banks must urgently embrace the next generation of payments to stay in the race.
Report finds that by 2025, instant payments and e-money payments will account for more than 25% of global non-cash transactions, up from 14.5% in 2020.
Payments are entering a new experience-driven era ushered in by an accelerated transformation timeline due to COVID-19 and the growing digital appetite of customers, according to the World Payments Report 2021 published today by Capgemini. With the Asia Pacific region leading the global pack, the demand for digital payment options is greater than ever before, along with the expectations for fast transaction settlements, instant payments, e-money, failsafe security, and wow-factor customer experience.
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