Asia is changing the world

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Asia has outpaced all other regions in terms of #payments revenue growth over the past several years. It is also the largest contributor to #global payments revenue, generating over $900 billion in 2019, nearly half the global total identified by McKinsey & Company. The role of payments in Asiaโ€™s overall banking landscape has expanded as well, now representing 44 percent of the regionโ€™s banking revenues.

There are five fundamental themes that are reshaping Asiaโ€™s payments:

  • 1. Consolidation and industry structure shifts,
  • 2. Cross-border links,
  • 3. Connected commerce,
  • 4. Cashless economy
  • 5. Contactless.

Source:

https://www.mckinsey.com/industries/financial-services/our-insights/the-next-frontier-in-asia-payments#

Author

Mark Kalin

Achiever, Competition, Futuristic, Maximizer, Significance

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