Though a bit late, Capgemini’s new world payment report confirms that global payments industry continued to grow in 2009 despite the global economic downtown and financial crisis. Judging from card market data published by the Nilson Report as well as information compiled by Mercator Advisory Group, strong growth in emerging markets especially those in Asia-Pac more than make up for the loses in the U.S. and other major developed markets.
Capgemini’s report reveals that globally, cards remain the preferred non-cash payment instrument, accounting for more than 40 percent of payments in most markets and 58 percent globally. In the Eurozone, cash-in-circulation has continued to maintain a steady growth of around 11 percent per year since 2002, representing significant cost for society.
Read the press release here: