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Key takeaways from World Payments Report 2015

Capgemini Consulting and RBS recently released WPR 2015 it is quite comprehensive study of the manner in which payments industry is growing globally. Below mentioned is my takeaway (Also added a few points from my side) from the report.

1. Asia is the driver of Global Non Cash transaction Growth: Global Volume’s reached 357.9 billion (2013)

2. Banking crisis has impacted US Markets by transforming it from credit card to debit card market. (This is clear reflection of behaviour change in US Consumer from spending beyond means to stay in limit)

3. Catalysts of the acceptance/growth of Non-cash mediums of transaction

- Innovation in payments and up-gradation of Infrastructure

- Affordable 3G data services,

- Smart phone penetration,

- VC fuelled e-commerce industry (enticing the aspirational population in small town’s to join the e-com  

   Bandwagon)  and

- Economic revival.

- Regulatory enablement’s (Like Reserve Bank of India providing license to 21 new age banks, and         

   Financial authorities opening banking industry to private investors)

- Improved security features , convenience and speed of delivery via immediate payments

4. Checks are on decline among the Non Cash medium’s and with improvement of payments   

     Infrastructure should continue to go downhill.

5. Transactions performed on Non-bank platforms are increasing at fast pace

- Closed loop cards (Toll Payments) and mobile apps (Starbucks)

- Digital Wallets

- Mobile Money

- Virtual currencies


-          Lack of interoperability among them leads however hinders ecosystem creation.


-          Relaxed KYC/ other privacy issues leads to safety/security concern

6. Collaboration between the Telecom and Banking Regulator is the Key

Contactless e-Purse Application (CEPA Singapore): An interoperable micro payment platform that bridged multiple sectors like retail and transit.

7. It is important for payment industry to identify and prioritise participation in key Industry Initiative while complying with the regulatory ones. Immediate payments is the top most in the priority list (In India launched in 2010 IMPS “Immediate Payment Service” it allows transfer in few seconds and is available 24*7*365), it has significantly improved the user experience, made transactions almost real time and reduced the cost of delivery.

This article is written to share author’s personal opinions on the cashless journey and in no way represent the views of the organizations for which I work. Also it can contains authors personal opinions apart from seeking reference from the world payments report therefore content may not be entirely representative of  the report.  The full report can be downloaded from



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Payments strategies 2015-2020-2030

Payments systems visions, strategies, trends, pilots, forecasting, and planning for the short-, medium-, and far-term.

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