Is Cash Still the King? Digital Transactions Nearly Doubles in FY22
                     Is Cash Still the King? Digital Transactions Nearly Doubles in FY22
Developed countries and their economies 
around the globe have implemented the 
cashless payment infrastructure that was 
based primarily on credit cards several 
decades ago. It worked quite efficiently for 
many years, but these structures have also 
become a burden lately.
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Is Cash Still the King? Digital Transactions Nearly Doubles in FY22
The western markets are slowly adapting to 
digital payment solutions and growing 
economies like India, China, and Eastern 
Europe are taking giant leaps in promoting 
digital transactions. The mobile payment 
system has allowed a huge share of the 
population in developing economies of Asia, 
Africa, and Latin America to get access to 
banking and digital transactions which were not 
easily possible earlier.
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Is Cash Still the King? Digital Transactions Nearly Doubles in FY22
We will share with you a few reasons why 
digital payment transactions, especially for 
online stores like Amazon, eBay, desertcart, 
etc. have become the popular choice.
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Some Major Highlights Regarding Digital Payments
• The total transaction value in digital 
payments is expected to reach US 8.50 
trillion by the end of 2022.
• Digital commerce has a projected total 
transaction value of 5.46 trillion in 2022.
• China will achieve the highest cumulative 
transaction value by touching US 3,318 
billion by this year.
• Total digital transaction value is expected to 
show an annual growth rate of 13.10 trillion 
at present and is projected to reach a total 
amount of 13.91 trillion by 2026.
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Some Major Highlights Regarding Digital Payments
In 2020 more than 7.3 billion real-time 
payment transactions were processed 
around the globe, an increase of 41% when 
compared to the previous year. The covid-19 
pandemic situation has dramatically 
accelerated digital payment systems and 
people moved away from their wallets and 
relied on real-time and digital payments.
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Some Major Highlights Regarding Digital Payments
This accelerated the shift to a digital payment 
system and also the building of the total 
digital payment ecosystem. Several 
companies launched their payment apps by 
linking them to bank accounts, making 
payments very seamless and user-friendly. 
People are now using mobiles, tablets, 
laptops and computers to make their 
payments quickly.
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Some Major Highlights Regarding Digital Payments
We are heading towards a cashless society 
and customers around the globe are 
becoming more tech-savvy. The 4G mobile 
telecommunication technology revolution 
has made it possible to process 70.3 billion 
real-time payment transactions globally in 
2020
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Top 10 Countries Around the Globe Processing Real-Time Transactions in 
2020
India retains the top spot in real-time 
payment transactions with a value of 25.5 
billion USD followed by China with a value 
of 15.7 billion transactions and with South 
Korea in third place with six billion 
transactions. Thailand came fourth with 5.2 
billion transactions and the UK came in 5th 
place with 2.8 billion in digital transactions.
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Top 10 Countries Around the Globe Processing Real-Time Transactions in 
2020
Nigeria comes in sixth place with 1.9 billion 
transactions and Japan comes in seventh 
place with 1.7 billion transactions. This is 
followed by Brazil coming in eighth place 
with 1.3 billion transactions. The US ranks in 
ninth place with 1.2 billion transactions. 
Mexico comes in tenth place with 942 
million USD in transactions.
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Some of the Fastest Growing Countries for Real-Time Payments
Croatia comes in the top place with an 
expected CAGR of 374.4 % between 2020 
and 2025 and this is followed by Columbia 
with 11 2.7 % and Malaysia with 83.9%. This 
is followed by Peru with 74.4 percent and 
Finland at 71.4%.
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Some of the Fastest Growing Countries for Real-Time Payments
The highest growth according to the region 
is expected to be in North America with 
36.5% as the US and Canada modernized 
their real-time payment system and ramped 
up their digital payment infrastructure.
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