Emerging Markets Lead in Growth of Noncash Payments

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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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