Digital payments will take a great leap forward in 2017, with global non-cash transaction volumes predicted to grow between 10% and 15%, potentially surpassing $450 billion.
Four factors that will drive digital payment growth in 2017 include:
- Increased card penetration;
- Improved security measures, such as encryption, tokenization and biometrics;
- Growing adoption of mobile payments; and
- Regulatory intervention.
Developing markets are likely to have the greatest influence on the growth of digital payment and may see increases as high as 15% to 20%. Learn more about what's in store for payments in this infographic from Transaction Network Services.
Source: Transaction Network Services