Revenues in the global payments industry have been growing more quickly than expected, driven primarily by the economic engine in Asia. Even areas that have seen slower or declining revenue growth are contributing to global payments expansion. This growth is projected to slow, however, as the economies in the Asia-Pacific regions begin to cool off.
This growth is being driven mostly from sheer volume, rather than an increase in margin. Transaction-related revenues increased strongly in many areas, but liquidity-related revenues were the largest contributor to the growth. In the coming years, digital nonbank entities will step in to reshape the customer experience and transform cross-border transactions. Banks and other traditional financial institutions will realize the risks of failing to invest in digital infrastructure, and many countries will continue the trend of modernizing their payment infrastructures.
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