Digital payments across the world have undergone rapid transformational changes due to COVID-19, forcing financial institutions, banks, and fintechs to revamp their traditional payments systems with cutting-edge, future-facing digital alternatives.

Along with broader institutional changes, mature and emerging markets have seen noticeable shifts in consumer spending patterns over the past year. For example, mobile wallets have a staggering 93% adoption rate in Africa, whereas 91% of the population in APAC use contactless payments. Tech-savvy customers in MENA digitally transact over $18.5 billion annually. Established markets in Europe and the UK are shaping the digital payments landscape with over 500 million NFC payments since 2020 and a projected $1.95 trillion worth of digital payments by 2025.

With industry perspectives from Interswitch, Capital Bank of Jordan, Dubai Islamic Bank Pakistan, and the MENA Fintech Association our Digital Payments Report 2021 covers the latest trends shaping payments worldwide.