2008 World Payments Report

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• Financial Services
  • Our Financial Services Solutions
    • Payments
      • Payments Solutions
      • 2008 World Payments Report Overview
      • Global Non-Cash Payments Market Trends
      • European Non-Cash Payments Market Trends
      • Card Market Opportunities and Challenges for Banks
      • SEPA Achievements and Challenges
      • Methodology
      • The Royal Bank of Scotland
      • The European Financial Management & Marketing Association

Latest Headlines

• Press Release: Cards are driving payments growth in a globalised economy; further standardization of euro card payments required as Single Euro Payments Area (SEPA) ramps up
• Efficient, secure and widely accessible non-cash payment instruments are critical for global trade and consumer spending
• European non-cash payments will continue to grow at 10% per year up to 2013, but cash is also increasing significantly in the Eurozone
• Cards are the fastest growing means of non-cash payments globally, accounting for 54% of payments worldwide
• The creation of the Single Euro Payment Area has already achieved many milestones but challenges remain to be overcome to ensure that the benefits of SEPA can be fully realised.
• Gearing up for M-Payments
• Why is Trade Finance Important to Corporate Relationships in a Global Economy?

Conclusions from the 2008 World Payments Report

Cards are the fastest growing means of non-cash payments, accounting for 54% of payment volumes worldwide, and demonstrating the importance of non-cash payment mechanisms to trade and consumer spending in our globalised economy. Overall non-cash payments reached 233 billion worldwide in 2006. Mature economies accounted for 80% of these payments, with Europe on its own accounting for a third, and these economies should maintain their dominance up to 2013. But China accounted for 7% of the global volume of non-cash payments in 2006, with a growth rate of 46% annually from 2001 to 2006, so could potentially overtake the Eurozone as the second largest payments market by 2013.

Over the four years of its publication, The World Payments Report has charted progress towards SEPA, the most ambitious regional payments integration plan to date. A number of very significant milestones have been achieved, including the launch of SEPA Credit Transfers in January 2008, but a number of challenges to achieving full migration to the SEPA SCT and SDD schemes remain.

Finally, some key issues (such as common technical standards, interchange fees regulation and scheme governance) also remain to be resolved in order for SEPA cards to become a reality under one option or another. With cards driving worldwide growth in non-cash payments volumes, the focus on this work is intensified.

We hope and trust that you will find this year’s report useful in forging the critical decisions you must make to succeed in your particular payments environment.

Contact Us

To discuss the findings of the World Payments Report in more detail and find out how the SEPA will impact your financial institution, contact us at payments@capgemini.com.