Banks will need to work with public sector organisations, regulators and others to ensure balanced growth in the development of digital payment systems, according to the World Payments Report 2018 by Capgemini and BNP Paribas. Banking industry initiatives currently face technological and regulatory complexity, the report emphasises. The report also forecasts only 38% compound annual growth to 2021 for non-cash transactions, led by expansion in developing markets, particularly Russia, China and India. However, 12.7% of bank executives currently plan to take a leading role in the digital payments landscape.
Banks will need to work with public sector organisations, regulators and others to ensure balanced growth in the development of digital payment systems, according to the World Payments Report 2018 by Capgemini and BNP Paribas. Banking industry initiatives currently face technological and regulatory complexity, the report emphasises. The report also forecasts 12.7% compound annual growth to 2021 for non-cash transactions, led by expansion in developing markets, particularly Russia, China and India. However, only 38% of bank executives currently plan to take a leading role in the digital payments landscape.