Reports

Bill Gates is quoted as saying, “Banking is essential. Banks are not.” This has never been truer than it is currently when we consider the explosive growth of alternative payment mechanisms. WorldPay data shows that, today, alternative payment mechanisms account for €165 billion of global e-commerce transactions, representing 22% of total transactional value, and they are expected to enjoy a Compound Annual Growth Rate (CAGR) of 13% in the run up to 2015

There is massive enthusiasm around NFC but serious questions are being raised about its deployment and long term practicality and success, in particular the slow pace of adoption owing to merchant and consumer apathy and perceptions about a loss of privacy or security. 

The major card and financial services providers are also gearing up for the m-payments changes coming to market across numerous markets and regions.

Asia is both tech-savvy and very poor, the two features thus offering great opportunities for mobile payments and financial services providers. In Africa m-payment services are very rudimentary but they are also flourishing and mobiles are a lifeline to many poverty-stricken Africans who wouldn’t otherwise have any access to financial services of any sort.

Payments are an integral part of the igaming experience and possibly even more so for the mobile gambling sector. Aideen Shortt gives an overview of the mobile payments industry, the issues to must to gain wider acceptance and how mobiles are perceived in different regions of the world.   

Compared to other rapidly developing regions which have endless diversity and fragmentation, Latin America is a more homogenous market, and therefore one with ample opportunity and potential.

This is an updated section form the Digital Payments Report 2012 which provides a market breakdown for Australia, China, Japan, India and Singapore