Payment insights that drive growth

This is the motto of the latest Global Payments Report 2023 with fintech insights across various markets by FIS Global. In general:

▪️ Rather than look to a future “cashless society,” it’s more likely that physical cash will gradually give way to central bank digital currencies (CBDCs). By 2026, cash’s share of global POS transaction value is expected to fall to less than 10%.

▪️ In addition to direct credit card use, consumer preferences for credit at checkout are broadening to include card-funded digital wallets, BNPL and other POS financing options. Merchants should offer all these payment methods to satisfy consumer demand.

▪️ Consumer interest in cryptocurrencies as an investment vehicle hasn’t fully translated yet into the use of crypto as a mainstream payment method.

Here is the full report. Dig-in!

#market_insights_WTM