by Summary:
In our view, five fundamental themes are reshaping Asia’s payments landscape (Exhibit 2). These trends are not new, but they are evolving rapidly, and COVID-19’s impact over recent months has reinforced several of their trajectories. For instance, the pace at which acquirers are onboarding small merchants to accept card payments—creating a true “connected commerce” environment—has accelerated. As a result, cash usage, which remains well above global averages in most Asian countries, is dropping rapidly, with significant opportunities for further reduction. The next decade will see the continuation of these trends, which include industry consolidation as well as the emergence of specialized players addressing evolving needs and capitalizing on business models built on adjacent revenue
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
In our view, five fundamental themes are reshaping Asia’s payments landscape (Exhibit 2). These trends are not new, but they are evolving rapidly, and COVID-19’s impact over recent months has reinforced several of their trajectories. For instance, the pace at which acquirers are onboarding small merchants to accept card payments—creating a true “connected commerce” environment—has accelerated. As a result, cash usage, which remains well above global averages in most Asian countries, is dropping rapidly, with significant opportunities for further reduction. The next decade will see the continuation of these trends, which include industry consolidation as well as the emergence of specialized players addressing evolving needs and capitalizing on business models built on adjacent revenue
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
New Economics Foundation writes Is the Labour government delivering on its promises?
Robert Vienneau writes Why Is Marginalist Economics Wrong?
John Quiggin writes Dispensing with the US-centric financial system
New Economics Foundation writes Whose growth is it anyway?
In our view, five fundamental themes are reshaping Asia’s payments landscape (Exhibit 2). These trends are not new, but they are evolving rapidly, and COVID-19’s impact over recent months has reinforced several of their trajectories. For instance, the pace at which acquirers are onboarding small merchants to accept card payments—creating a true “connected commerce” environment—has accelerated. As a result, cash usage, which remains well above global averages in most Asian countries, is dropping rapidly, with significant opportunities for further reduction. The next decade will see the continuation of these trends, which include industry consolidation as well as the emergence of specialized players addressing evolving needs and capitalizing on business models built on adjacent revenue streams....McKinsey & Co.
The next frontier in Asia payments
McKinsey Report