The report, Global Payment Cards Data and Forecasts to 2023, uncovers the fact that payment cards were used for purchases with a value of USD 25.1 trillion worldwide in 2017, an increase of 13% compared to 2016. Card expenditure is being outpaced by growth in the number of payments, as cards are being used for lower-value payments, often displacing cash at small retailers.
Other key findings:
global card expenditure will grow at an average of 10% per year between 2017 and 2023;
the average value of a payment will fall from USD 67 to USD 62 over the same period as the influence of contactless cards grows;
APAC accounts for 50% of global card expenditure, higher than its 28% share of the number of payments;
debit cards account for 55% of spending on cards worldwide, below their share of the number of payments;
the value of card payments worldwide will continue to rise, but the average value of a payment will keep falling.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now