Global Data Says COVID-19 Accelerates Shift to Digital Payments in the Asia-Pacific

Source: Back End News

As governments issue movement restrictions to help curb COVID-19, businesses accelerated their digital transformation which includes, among others, digital payments. According to Global Data, a data analytics and consulting company, the pandemic has fast-tracked the transition to digital payments across the Asia-Pacific (APAC).

According to Global Data revised forecasts, the total card payments in APAC market are expected to grow by 6.5 percent to reach $20.3 trillion in 2020. This is expected to rise further to $27.4 trillion by 2023.