mobile payment

Real time payment will account for 8% of China’s total transactions in 2025 From yStats

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The cowid-19 crisis has further strengthened the trend of real-time payment in Europe and the United States

During the period of covid-19 crisis, the real-time payment scheme received special attention from the government, enterprises and consumers. American business decision makers point out that the main reason for using this payment processing method is to provide high accuracy of cash flow management. According to the prediction of juniper research in September 2020, the share of instant payment in China’s total transaction volume will reach 8% in 2025. In Europe, the value of real-time payment transactions is expected to account for 38% of the global total. The European Central Bank has set a goal of integrating all payment providers into the real-time payment system across the euro zone by the end of 2021. In addition, real time capital transfers in most European markets, including the UK and the Netherlands, have grown significantly in 2020. According to data from Tata consulting services in May 2020, the Nordic countries have developed an action plan to introduce real-time payment within the framework of p27 (new banking project) plan from mid-2021.

Real time payments are accelerating in Asia at a time of the coronavirus pandemic

Since the outbreak of covid-19, most countries in Asia have paid more and more through their local RTGS system. Japan’s core time system experienced a significant peak in March 2020, and this number gradually stabilized after that. In November 2020, Manila Times of the Philippines quoted BSP as saying that instapay in the Philippines increased 57% to 4.6 million mobile payment transactions in May 2020, a record high. This positive trend is likely to continue in the near future as China, Singapore, Malaysia and some other economies see a substantial increase in real-time payment penetration by 2024.

It is predicted that the real-time transaction volume of South Korea will reach 7.7 billion times by 2024, an increase of 6.9% compared with 5.5 billion times in 2019.

More reading: ystats: Asia Pacific has become the region with the highest penetration rate of mobile payment in the world 51.2% emarketer: it is estimated that the total value of mobile phone transactions in in store terminals will be $210 billion in 2019 More than 1 million consumers of pay The driving force of future development ystats: India’s mobile e-commerce sales share will grow to 25% in 2017 emarketer: a variety of express services help the development of retail e-commerce in Western Europe ystats: overview of Southeast Asian B2C e-commerce market in 2015 ystats: Social Commerce has become an important trend in Vietnam 90% of online buyers have bought online on Facebook

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