Emerging Markets Lead in Growth of Noncash Payments

As new payment mechanisms continue to grow, so do the regulations around them. Between 30 and 40 major regulatory initiatives occurred around the globe in 2012, including ISO 20022, a framework in which to develop message format standards for all domains of the financial industry, including payments, cards, trade services, FX and securities.

The just-released World Payments Report 2013, prepared by Capgemini and RBS, shows a strong shift to non-cash payments, with growth especially pronounced in emerging markets. Globally, the number of non-cash payments jumped by 8.5% to 333 billion in 2012 or about 47 transactions for every human on the planet, according to Kevin Brown, managing director and global head of transaction services with RBS, in a release about the report. Growth topped 20% in Central Europe, the Middle East and ...

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What's Basis Points?

Karen Kroll supplies the Business Finance community with reporting and commentary examining cash management and treasury-related topics.

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