The total volume of worldwide payment transactions is expected to reach 751 billion by 2020, a recent report has revealed.

According to ESBG Working Paper, called the “SEPA or payments innovation: a policy and business dilemma”, in 2010 the global volume of payment transactions reached 306 billion and results indicate it will increase by 145 percent by 2020.

The same data has also shown that in 2020, Latin America will see its payment transaction volume reach 109 billion, up by 276 percent from 29 billion in 2010. The Asia Pacific region will also register a considerable increase, with payment transaction volumes accounting for 213 billion, up by 228 percent as compared to 65 billion in 2010.
North America and the CEE region are also expected to grow substantially by 2020, reaching 207 billion (up by 77 percent from 2010) and 30 billion (up by 150 percent from 2010). Western Europe will register the slowest increase, with the volume of payment transaction expected to reach 125 billion, up by only 60 percent from 78 billion in 2010.

According to the source, in 2020 North America will still be 1.7 times larger in terms of non-cash payment transactions than Western America, even though it will grow at a slower rate than Latin America or the Asia Pacific region.