Global payments 2021: Transformation amid turbulent undercurrents

The overall 5 percent decline in payment revenues is composed of divergent regional trends: Asia–Pacific, which has consistently outpaced other regions in payments revenue growth over the past decade, … See more

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What is McKinsey's 2021 global payment report?

McKinsey’s 2021 Global Payment Report, as always, contains important fundamental analyses of the global payment business and how this affects banks. The report for 2020-2021 is split into four parts: Global payments 2021: Transformation amid turbulent undercurrents CBDC and stablecoins: Early coexistence on an uncertain road ...

Did global payments revenue decline in 2020?

In 2020, global payments revenue did indeed decline to $1.9 trillion globally, marking the first decline in 11 years. However, the decline was less than anticipated, and indicators point to a nominal rebound in 2021. ...

What are the expected payment trends in 2021?

As might be expected given 2021’s uneven global economic recovery, payments trends are showing disparity by country and region. For instance, revenues in Asia-Pacific and Latin America are expected to grow in the 9 to 11 percent range, compared to EMEA and North America at 4 to 6 percent. ...

How resilient is the Global Payments industry in 2021?

The global payments industry demonstrated its resilience again in 2021, more than recouping the revenue erosion experienced in 2020. Despite being the sector’s first decline since the 2008–09 financial crisis, the industry's five-year revenue outlook now exceeds prepandemic expectations, topping $3 trillion by 2026. ...

How did the payments industry perform in 2021?

In 2021, payments industry revenues rebounded strongly, growing at an 11 percent rate and reaching a new high of $2.1 trillion globally. Growth was strong across all regions, with both Asia–Pacific (APAC) and Europe, the Middle East, and Africa (EMEA) registering double-digit gains. ...

Is the Global Payments sector poised for a quick return to healthy growth?

McKinsey predict that the global payments sector is poised for a quick return to healthy growth, but the benefits will not flow evenly to all participants with: The pandemic reinforcing major shifts in payments behaviour: declining cash usage, migration from in-store to online commerce, adoption of instant payments which will probably endure ...