Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Asia-Pacific Digital Payment Forecasts 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The global digital payments market is on the cusp of remarkable growth, with non-cash transaction volumes projected to almost double by 2026, exceeding a staggering 2 trillion transactions. A significant highlight from the report is the rapid rise of real-time payments in the Asia-Pacific (APAC) region, expected to surge from 49.2 billion in 2022 to over 300 billion by 2027, a nearly sevenfold increase.
Key Findings:
- Global Non-Cash Transactions Soaring: The report predicts that non-cash transaction volumes worldwide will witness a remarkable growth of over 57% starting in 2023, culminating in a staggering 2 trillion transactions by 2026.
- Asia-Pacific's Real-Time Payments Boom: Real-time payment volumes in the APAC region are poised for explosive growth, set to increase from 49.2 billion in 2022 to over 300 billion by 2027, marking a nearly sevenfold surge. Real-time payments are projected to expand their share of total electronic payments from 11% in 2022 to 12% by 2027.
- Southeast Asia's Proximity Mobile Payments: Southeast Asia is emerging as a hotspot for proximity mobile payments. Indonesia leads the way with an expected 34 million users by 2026, followed by Thailand with 19 million users and the Philippines with 11 million users.
- Japan's Cashless Payment Market: Japan, while witnessing limited adoption of digital wallets, is expected to thrive in the cashless payment market, surpassing EUR 1 trillion by 2025, albeit with a declining annual growth rate starting in 2023.
- China's Dominance in Digital Payments: China is set to solidify its global leadership in digital payments, with the number of real-time transactions projected to surpass 29 billion by 2027.
Expert Insights:
The report underscores the significant shifts underway in the digital payment landscape across the APAC region. As real-time payments continue their extraordinary ascent and nations increasingly adopt digital payment solutions, the global non-cash transaction volume is poised for unparalleled growth in the coming years.
Companies Mentioned:
- Alipay
- Android Pay
- Apple Pay
- Paypal
- Samsung Pay
For more information about this report visit https://www.researchandmarkets.com/r/byh96w
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