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India's very own payment system <keyword id="597447" type="UNKNOWN" weightage="80" keywordseo="Rupay">RuPay</keyword> will launch Credit cards from next year. 
 
"Issuance of the card is expected to give Visa and MasterCard a tough competition, since the debit card issued by RuPay by banks in India has revealed that there is a huge potential for cards penetration and transaction," NCPI Chairman M Balachandran told reporters today. 
 Almost 13% of <keyword id="48577" type="TECHNOLOGY" weightage="80" keywordseo="ATM">ATM</keyword> , <keyword id="443296" type="UNKNOWN" weightage="60" keywordseo="Point-of-Sale">Point of Sale</keyword> and <keyword id="2903551" type="UNKNOWN" weightage="80" keywordseo="Ecommerce-transactions">Ecommerce transactions</keyword> are through RuPay cards he said. The number of transactions is growing at a generous 1-2% month on month he added. 
 
Balachandran says NPCI targets to reach every Indian by 2020. AS of now, more than 160 million people use RuPay. 
 
(Image credit: Indiatimes)

RuPay will launch its own credit cards next year

India has long been a global hub for ITES and BPO services. Huge amounts of institutional data have been processed, and our corporate security systems have evolved from intrusion detection systems and firewalls to high-tech data driven security setups. 
 
While the contractual clients for these businesses ensure that security services are up-to-date, the RBI and IRDA have enforced regulations to secure banking and insurance transactions respectively. However, other sectors may not be doing so well. 
 
“There is healthy development across some sectors while others are caught with their head in the sand in terms of data security”, Ashish Thapar, Executive Consulting Partner, Professional Services, Asia, Verizon Enterprise Solutions says. 
 
Anxiety about the safety of using Indian mobile apps reached the peak recently post alleged data breaches in popular apps like Ola, Zomato and few others. 
 
“In such cases data may have been stolen from back-end servers, not from the mobile applications. It is advisable for users to have a different risk approach to these online accounts”, Thapar says. 
 While experts may advise one to refrain from using banking credentials, the fact remains that bigger <keyword id="35621" type="UNKNOWN" weightage="100" keywordseo="e-commerce">e-commerce</keyword> players like Flipkart, Amazon and Snapdeal have made tall claims about the revenues generated from the mobile platform. Snapdeal claims around 70% of its transactions are done with a mobile device. Given the whopping numbers, what is the effective safety quotient behind conducting financial transactions with these mobile apps on public <keyword id="47655" type="TECHNOLOGY" weightage="80" keywordseo="Wi-Fi">Wi-Fi</keyword>? 
 
“The safety factor is varied across companies. Today’s apps must feature sandboxing to ensure safety against existing malware and strong encryption to safeguard data in transit”, Thapar says. 
 
While Apple and Play Store have ramped up security guidelines to prevent malicious or deficient applications from entering the platform, the fact remains there is not much data protection enforcement unlike European countries. 
 
A third reason for genuine concern is that while India has germinated into a fertile ground for many online startups, there are concerns that these compromise on security, and hence its consumers are exposed to potential security threats. 
 
“This is where the role of a possible regulator may come in handy to establish a baseline for security. Until then users may be at a risk of sharing data with organizations that may be compromising information security to make a quick buck in the initial stages of their business”, Thapar says. 
 
(Image credit: Indiatimes)

How safe are your e-commerce transactions?

Top retailers are heeding the call for free shipping by offering that perk with more transactions, according to a new study published by <a href="http://www.comscore.com/Insights/Presentations_and_Whitepapers/2014/State_of_the_US_Online_Retail_Economy_in_Q1_2014">comScore</a>.
In the first quarter of 2014, 58% of e-commerce transactions in the U.S. received free shipping as part of the order. One year earlier, just 48% of transactions came with free shipping. 
<a href="https://intelligence.businessinsider.com/e-commerce/charts?utm_source=House&amp;utm_medium=Edit&amp;utm_term=E-FreeShippingChart-1&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">BI Intelligence</a> finds that retailers are clearly becoming savvier about what motivates Americans to make a purchase online. Sixty-six percent of online shoppers say free shipping is "very important" to them when making a purchase online, according to a poll from the <a href="https://nrf.com/">National Retail Federation</a>.
BI Intelligence is a subscription research service from Business Insider. We cover the e-commerce, payments, and mobile industries. <a href="https://intelligence.businessinsider.com/e-commerce/charts?utm_source=House&amp;utm_medium=Edit&amp;utm_term=E-FreeShippingChart-1&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">For full access to all our charts, data, and analysis, sign up for a free trial.</a>
<div class="KonaFilter image-container click-to-enlarge"><div class="image"><a title_source="BI Intelligence" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/537cb02aeab8ea355add357d-960/bii-ecommerce-free-shipping.png"></a>BI Intelligence</div></div>

CHART: Retailers Are Offering Free Shipping With More E-Commerce Transactions

<ul><li>52% of the respondents are spending between INR1,000 and INR5,000 on average on a single transaction on social media.</li><li><keyword id="9597163" type="General" weightage="20" keywordseo="live-shopping" source="Orion">Live shopping</keyword> (39%) and conversational commerce (49%) are gaining popularity in India, as 9 out of 10 people enjoyed the shopping experience.</li></ul> Global data and measurement-driven media agency Essence today unveiled its first-ever <keyword id="623994" type="General" weightage="100" keywordseo="social-commerce" source="Orion">social commerce</keyword> report, which investigates the rapidly growing trend of consumers buying products and services directly on social platforms.The report illustrates the significant opportunity brands have in social commerce, with three out of four people surveyed saying they are likely or highly likely to buy through social media in the future. Social commerce is forecast to <a href="https://www.weforum.org/agenda/2021/05/china-future-social-commerce-content/" target="_blank">account for 13%</a> of total ecommerce sales in China this year. According to the Essence survey, 41% of respondents worldwide made purchases or intend to make purchases involving social platforms. While social media platforms have always provided an environment for buyers and sellers to interact, the survey demonstrates a shift towards organised commerce on platforms. Increasingly, social commerce enables discovery, browsing and purchasing to take place on one platform without the need to interact with any external websites or applications. Ultimately, it creates a seamless experience with fewer clicks and higher potential revenue and conversion rates. Global Trends China, unsurprisingly, is the leader in social commerce, which is forecast to <a href="https://www.weforum.org/agenda/2021/05/china-future-social-commerce-content/" target="_blank">account for 13%</a> of total ecommerce sales in 2021. According to the Essence survey, almost 80% of consumers in China purchased items on social media. Singapore, India and Indonesia followed with 50%, 49% and 48%, respectively. France, Germany and Japan showed the lowest purchasing intent via social platforms at 22%, 27% and 24%, respectively. But despite that low percentage, interest in social commerce is growing in Germany. Almost half (44%) of Gen Z customers in Germany indicated that they purchased or intend to purchase using social platforms. Transaction Value In most countries, the average transaction value on social commerce is higher than the average transaction value on ecommerce transactions. Respondents in Japan recorded the highest average transaction value, between JPY11,001 and JPY55,000 (USD96.74 to USD483.67) for social commerce, followed by the United States, which had an average transaction value between USD101 and USD200. China, on the other hand, had a lower average transaction value between CNY201 and CNY500 (USD31.48 to USD78.30). The higher value transactions look to be driven primarily by men (35%) and by millennials in the 25 to 44 age segment (72%). Both the male and the 25 to 44 age segments are skewed towards the purchase of higher value categories such as hardware, home cleaning, luxury and furniture. Live Shopping and Streaming Social innovations have propelled the growth of virtual shopping. Live shopping and conversational commerce experiences increase the propensity to buy on social media. Four out of five respondents are likely to buy on social media if they have watched a livestream or participated in conversational commerce. Livestreaming has emerged as a major factor in luxury social ecommerce. While the use of livestreaming in ecommerce was primarily centred in the Asian market, it is now commonplace worldwide. Luxury brands including Hermès, Louis Vuitton and Burberry all launched their Fall or Winter 2021 shows by livestreaming worldwide. Brands such as L’Oréal are also driving growth in the luxury beauty segment, partly because social media enables the brand to interact with consumers, influencers, beauty advisers and salespeople on the same platform. These innovations and collaborations are driving sales of luxury items both online and offline. The research indicates that most consumers enjoy the livestream shopping experience, with almost half (43%) of respondents claiming to have enjoyed it and 39% of respondents highly enjoyed it. These statistics held up not only in China, but also in other markets where social commerce is still in its infancy. Globally, 85% of the respondents who watched shopping livestreams report that they are more likely to purchase via social media. Aniket Basu, Senior Director, Technology and Ecommerce, at Essence, said: “We expect that the future of online shopping - and not just social commerce - will be discovery-driven. Customers tend to be exposed to new and innovative products as they browse more on social media or encounter algorithmically mediated recommendations from friends and family on social platforms. Ecommerce is maturing as a field, with social media giving brands and retailers new ways to reach audiences and new growth opportunities. In this environment, social commerce serves as a key future-proofing method for the next five years and beyond.”

Beauty, food delivery and grocery are the most purchased categories by Indians through social commerce: Essence Report

<ul><li><keyword id="7980696" type="General" weightage="20" keywordseo="bobble-ai" source="Orion">Bobble AI</keyword>'s recent report on the E-Commerce Industry in India shows E-commerce in India has witnessed an uptick of 77% between 2020 and 2021.</li><li>Flipkart dominates in terms of engagement metrics like search frequency and active sessions; Amazon wins in terms of transactions, with significantly less average session times.</li><li>Purplle had a 70% growth in active users in the 2021 shopping festival, compared to a 50% increase for Nykaa; common user base grew from 15% to 17%.</li></ul>E-commerce in India has witnessed an uptick of 77% between 2020 and 2021 and tier 2,3 cities are transacting more than ever as per a report by India’s largest conversation media platform Bobble AI. Bobble AI report is based on over 50 million smartphone users’ (in 640+ Indian cities) data processed in a privacy-compliant manner. It also revealed that while tier 1 cities dominate the fashion festival figures, transactions in tier 2 cities like Jaipur, Guwahati, Lucknow, Kochi, Mysore, and Bhubaneswar are at an all-time high – up 82% over the previous year. Apart from that, the majority of consumers are between the ages of 26 and 35 accounting for 37%, and between the ages of 18 and 25, accounting for 26% with 72% males and 28% females. According to the data intelligence company’s survey on the state of eCommerce in India, which was conducted across Tier 1, 2 and 3, beauty e-commerce apps usage grew by 64%, whereas fashion e-commerce grew by 368% over the past year. The festive period has only led the two e-commerce domains to skyrocket, with at least two transactions completed by shopaholics during the fashion festivals. In an interesting insight highlighted by the study, India’s fashion e-commerce industry has transformed from ‘Monopoly’ to ‘Ludo.’ Fashion giant Myntra faced tough competition from its competitive counterparts, Meesho, Ajio, and TataCliq. While almost 46% of all transactions belonged to Myntra during the 2020 festive period, Ajio bagged around 69% of all transactions in 2021. The share of Myntra’s active users, also using Meesho, Ajio, and TataCliq has also increased significantly, indicating how users are exploring multiple options this year. The battle of the e-commerce legends, Amazon, and Flipkart is worth noting, with Flipkart’s active user base rising 83% in 2021 online shopping festival compared to Amazon’s 72%. Despite the fact that Flipkart is dominating in terms of engagement metrics like search frequency and active sessions, Amazon is winning in terms of transactions, significantly less average session times. Apart from fashion e-commerce, interesting insights have also emerged from the beauty e-commerce segment. Leading players Nykaa and Purplle locked horns this festive season – and Purplle took a piece from Nykaa’s pie. In light of Nykaa’s IPO, let’s look at their market share against Purplle, Nykaa’s pure-play fashion e-commerce competitor. Purplle had a 70% growth in active users in the 2021 shopping festival, compared to a 50% increase for Nykaa. With 15% common user base in 2020, Purplle is now standing at 17% in 2021. The festive season trends point towards healthy and fast-evolving competition in the e-commerce market, which bodes well for customers who are looking for high-quality products at affordable prices. With the festive season coming to a close, it is exciting to anticipate how the competition will pan out in 2022. With India’s e-commerce market set to reach $120 billion by<a href="https://www.forbes.com/sites/kevinrozario/2021/07/13/e-commerce-in-india-set-to-reach-120-billion-in-2025-says-report/?sh=3db8de784611"> 2025</a>, the future seems promising. Hypergrowth is definitely on the horizon for the segment, and according to Bobble AI’s findings, brands are poised to capture growth opportunities.

Ajio and Myntra locked horns this festive season in fashion e-commerce: Report

This story was originally sent to thousands of professionals just like you in this morning's E-COMMERCE INSIDER daily newsletter. Don't be left in the dark while your competition gets ahead each morning. <a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_ECI-ios-core-2015-6-25&amp;utm_campaign=CtgrPr_nlsa">Learn more about our 7-day FREE trial now »</a> iOS devices lead over Android in countries where mobile shopping is relatively popular, according to a study published by <a href="http://e.businessinsider.com/52654c6e462018e2ea6db9fb2r7kv.l1/VYnaAsPo3zgOlvLvAa34a" target="_blank">Criteo</a>. <ul><li>In Japan, 28% of all e-commerce transactions in the second quarter of this year occurred on iPhones and iPads, compared to 19% on Android smartphones and tablets. </li><li>In the UK, 35% of all e-commerce transactions this quarter occurred on Apple devices, compared to 10% on Android devices. </li></ul>Finding this article interesting? Thousands of professionals just like you had it in their inbox first. Stay ahead of the curve and gain a comprehensive understanding of the latest news &amp; trends, start your day with the E-COMMERCE INSIDER. <a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_ECI-ios-core-2015-6-25&amp;utm_campaign=CtgrPr_nlsa">Get 7-days FREE »</a><div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Mobile accounts for nearly half of all e-commerce transactions in Japan and the UK, which is why it's so important for brands and retailers to know which devices capture the most consumer spending online. Following Japan and the UK, other countries like Germany and the US also have a relatively high percentage of e-commerce sales and iOS again captures a larger share of those transactions than Android does.Here are other stories you need to know from today's E-COMMERCE INSIDER:<ul><li>ALIBABA EXPANDS FOREIGN LISTINGS ON TMALL GLOBAL PLATFORM</li><li>SALESFORCE JOINS AD-TECH WORLD</li><li>PEOPLE IN THE NEWS </li></ul>Don't miss another day of breaking developments! Stay ahead of the curve and gain insight into the latest news &amp; trends. Join thousands of other professionals who start the day with E-COMMERCE INSIDER.<a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_ECI-ios-core-2015-6-25&amp;utm_campaign=CtgrPr_nlsa"> Try it FREE for 7 days now »</a>

Here's the mobile platform dominating global e-commerce

The meteoric rise of <keyword id="35621" type="UNKNOWN" weightage="80" keywordseo="e-commerce">e-commerce</keyword> in India since 2014 is due to increased businesses from smaller towns according to a report by consultancy firm PwC India, exclusively available with Business Insider India. 
 
The report states that Tier 2 and 3 cities have seen 30% to 50% rise in transactions. E-commerce is making available world class luxury brands to the small town consumer base. This was unthinkable earlier. 
 E-commerce sites are usually data heavy due to the several pictures and plug-ins they use. With roughly 50% data penetration in towns one would think there is not enough <keyword id="6378791" type="TECHNOLOGY" weightage="80" keywordseo="3G">3G</keyword> out there to support e-commerce in smaller towns across the country. Looks like that is not the only deciding factor. “Companies would have to devise strategies to make their websites and apps lighter. It’s definitely a market with untapped potential”, Sandeep Ladda, Leader of Technology Sector Practice, PwC India said. 
 The current report also outlines incentives like free delivery, <keyword id="333876" type="ORGANIZATION" weightage="80" keywordseo="COD">CoD</keyword> and deals and discounts as the key reasons for the recent take-off. Add to that enhanced functionalities like specialised products and expanded product baskets. 
 
Previously, only 5% of the ecommerce transactions were made with mobile devices. The figure has more than doubled to 13%. Some online retailers claim that over 50% of their orders are being placed through apps. “The e-commerce industry is definitely moving towards mobile apps, thanks to smart phones and 3G connectivity”, Ladda says. 
 
Apps are ‘stickier’ than websites. They can help contribute to building brand image and brand loyalty among consumers. However, the recent drop in Myntra’s sales raise questions whether the industry is ready to go app only. 
 
The fast-growing internet population of 243 million in 2014 is a general indicator of the huge potential of e-commerce in India. The industry has grown by 34% since 2009. It is pegged at $16.4 billion as of 2014. The figure is supposed to jump to $22 billion in 2015. 
 
(Image credit: Indiatimes and PwC India)

Move aside
Mumbai and Delhi, Flipkart and Amazon’s biggest consumer base is in cities like
Indore and Lucknow

The Chinese e-commerce market is becoming an extremely competitive space.
With lots of dollars at stake, companies that were not originally e-commerce focused are expanding their services to include digital marketplaces and payments platforms. 
Most recently comes the announcement that Chinese consumer Internet giant Tencent has paid $215 million for a 15% stake in JD.com (formerly known as 360Buy), China's second-largest e-commerce company by transaction volume. Tencent will get an additional 5% stake in JD.com after the company files for an IPO.
Tencent plans to integrate JD.com with its popular messaging app WeChat. More than 300 million people are active on WeChat each month, and the app already has its own built-in payments system. The new partnership means WeChat users will soon be able to purchase a huge array of products from within the app. 
<div class="KonaFilter image-container float_right click-to-enlarge" style="width:400px"><div class="image"><a title_source="BI Intelligence" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/531e136e6bb3f720406a69cc-960/bii-jd-ecommerce-sales.png"></a>BI Intelligence</div></div><a href="https://intelligence.businessinsider.com/chinas-mobile-ecosystem-presentation-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-CHINA-DECK-2&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Here are the stats on JD.com, compiled by BI Intelligence:</a>
<ul>
<li>The company logged roughly <a href="http://www.prnewswire.com/news-releases/jdcom-announces-2013-sales-to-surpass-rmb-100-billion-236983031.html">$16 billion in sales in 2013</a>, a 67% increase over the previous year.</li>
<li>More than 15% of orders were placed via mobile apps, which is significantly higher than the market average in China.</li>
</ul>
Mobile transactions will likely increase further after JD's integration with WeChat. 
<a href="https://intelligence.businessinsider.com/chinas-mobile-ecosystem-presentation-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-CHINA-DECK-2&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">BI Intelligence, Business Insider's tech research service, has been tracking developments in China's e-commerce market and found significant growth, particularly on mobile.</a>
E-commerce sales in China topped $300 billion in 2013, according to some analyst estimates, and approximately 8% of those sales occurred via mobile devices, according to data from <a href="https://www.credit-suisse.com/investment_banking/indices_research_analytics/en/index.jsp">Credit Suisse</a>. This is about seven percentage points below the share of mobile transactions on JD.com's platform. <a href="https://intelligence.businessinsider.com/chinas-mobile-ecosystem-presentation-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-CHINA-DECK-2&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">By 2015, mobile commerce overall could account for as much as 15% of China's e-commerce market.</a>
By leveraging its mobile messaging app, which is already extremely popular for payments, Tencent appears to be carving out its share of the crowded e-commerce market by investing heavily in the mobile commerce future. 
<a href="https://intelligence.businessinsider.com/chinas-mobile-ecosystem-presentation-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-CHINA-DECK-2&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">For full access to BI Intelligence's China Deck, along with all our charts, data, and analysis on the e-commerce industry, sign up for a free trial.</a>
Here's a look at how mobile commerce is expected to grow as a percent of total e-commerce in China: 
<div class="KonaFilter image-container click-to-enlarge"><div class="image"><a title_source="BI Intelligence" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/531e1da86bb3f71b66206f6e-960/bii-mobile-commerce-china-3.png"></a>BI Intelligence</div></div>

Here's The Latest Sign That China's E-Commerce Market Is White Hot

India’s technology sector is continuously moving forward as more than 190 mergers and acquisitions (M&amp;A) happened in the last four years. The total deal size stood at $2.27 billion since January 2011 and the trend would continue to fill technology gaps and talent requirements in the country. 
 

	The highest number of deals was sealed during 2014, as per a PTI report. 
	 

	Further, the start-ups valued at over $1 billion "will aggressively pursue acquisitions to beef up key areas including mobile, ad tech, data science, merchant acquisitions, marketplaces, payments and logistics". The findings were among key trends that emerged from the 'Think Next Roundtable Report' on M&amp;As in the technology space, conducted by IT thinktank iSPIRT, along with technology focused M&amp;A advisory boutique Signal Hill and <keyword id="1783512" type="ORGANIZATION" weightage="80" keywordseo="Microsoft-Ventures">Microsoft Ventures</keyword>. "The average deal size stands at $11.3 million, lower than that of mature start-up ecosystems such as <keyword id="6355882" type="COUNTRY" weightage="80" keywordseo="israel">Israel</keyword> which is at $113 million and the US, which is at $57 million," the report said. 
	 

	"Volumes and value will continue to rise rapidly. In business-to-business (B2B) software, cross-border M&amp;A will continue to dominate transaction volumes and values. Whereas, in eCommerce and consumer Internet, domestic M&amp;A transactions will prevail," it said. 
	 

	The domestic transactions account for over 72 % by volumes in M&amp;A activity. 
	 

	"Inbound" M&amp;A transactions were predominantly in B2B software at 53%, whereas domestic M&amp;A transactions in consumer Internet and e-commerce stood at 60%. 
	 

	"Investments in the eCommerce and consumer Internet space have grown 38 times between 2010 and 2014 with deals worth $4.2 billion struck in 2014 alone," it further said. Of this, <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword> accounted for over 50% of the total deal value in 2014, it added. With a fear of missing out, hedge funds and <keyword id="34499" type="POSITION" weightage="80" keywordseo="private-equity">private equity</keyword> funds are investing in 'new' Series B ($10-25 million) and Series C &amp; D ($20-250 million) onwards, "fueling a frenzy in valuations," the report stated. 
	 
	(Image: Indiatimes)

Over 190 mergers and acquisitions take place in the last 4 years in India’s tech sector

<ul class="summary-list"><li>This is a preview of THE PAYMENTS FORECAST BOOK 2019 research report from Business Insider Intelligence.</li><li><a href="https://www.businessinsider.com/intelligence/bi-intelligence-payments-research-bundle?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=top_text&amp;itm_term=bundle_subscription_text_link-the-payments-forecast-book-report-2019-6">14-Day Risk Free Trial: Get full access to this and all Payments industry research reports.</a></li></ul>As cash usage declines slowly worldwide, the digital payments ecosystem is swelling around the globe: Noncash transactions are poised to exceed 1 trillion for the first time in 2023, driven by increased card penetration, wider access to mobile phones, and more access to payments infrastructure. <div class="KonaFilter image-container display-table float_right no-rightrail"><div><div class="image"></div></div></div>In emerging markets, these changes will be driven by Asia, which remains at the helm of digital transformation in payments as customers in major markets like China, India, and Southeast Asia flock to wallets like Alipay and Paytm and super-apps like WeChat and Grab in lieu of cash and cards for their payments, both online and in-store.Change looks different in mature markets like the US, where the overall expansion of the digital payments market will remain more tempered, but mobile's impact will surge as customers move from PCs to mobile and other emerging connected devices for their online shopping, and replace small-dollar cash P2P transactions with mobile apps like Venmo and Zelle. For providers looking to make inroads in the space, understanding the dynamics of these changes will be key to growth.In the 2019 edition of the <a href="https://intelligence.businessinsider.com/post/the-payments-forecast-book-2019-22-forecasts-of-global-payment-industrys-most-impactful-trends-and-whats-driving-them-2019-6">Payments Forecast Book</a>, Business Insider Intelligence will forecast growth in the major sectors of the payments ecosystem worldwide, with a particular look at the US market.The forecast book, presented as a slide deck, highlights change by region in areas like noncash transactions, e-commerce, card adoption, and terminal penetration, and examines key areas of change, including contactless transactions, fraud, and mobile payments. Within each category, it provides insight into what the market will look like in 2024 and identifies key factors that will accelerate and inhibit growth.The companies mentioned in this report are: Affirm, Alibaba, Amazon, Clover, Discover, Google, Grab, iZettle, NACHA, Klarna, Mastercard, PayPal, Square, Starbucks, The Clearing House, Venmo, Visa, Verifone, Zelle,Here are some key takeaways from the report:<ul><li>Globally, noncash transactions will exceed 1 trillion in 2024, driven by growth in APAC, which will comprise 40% of transactions by 2024.</li><li>Card adoption will grow rapidly in markets like Latin America and the Middle East to 2024, but stagnate in sub-Saharan Africa, where customers largely transact through nonbank methods.</li><li>US retail spending will grow modestly, but e-commerce will nearly double its share of total retail sales by 2024 as customers do more everyday shopping online.</li><li>Card payments will tick up as US customers continue to abandon cash, but mobile will remain the brightest growth driver, coming to comprise 44% of the $1.9 trillion in e-commerce and 68% of the $760 billion in P2P payments in 2024.</li></ul>In full, the report:<ul><li>Identifies big-picture trends moving the needle in the payments ecosystem both globally and in the US.</li><li>Forecasts growth in key sectors, including noncash transactions, card and terminal penetration, fraud, e-commerce, and mobile payments, through 2024.</li><li>Discusses what the global payments market will look like in 2024, and how that differs from the present.</li><li>Highlights key growth engines and inhibitors that will drive change between now and 2024.</li></ul>Interested in getting the full report? Here are two ways to access it:<ol><li>Purchase &amp; download the full report from our research store. &gt;&gt;<a href="https://store.businessinsider.com/products/the-payments-forecast-book?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-the-payments-forecast-book-report-2019-6&amp;vertical=payments#!/">Purchase &amp; Download Now</a></li><li>Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/bi-intelligence-payments-research-bundle?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=learn_more_text&amp;itm_term=bundle_subscription_text_link-the-payments-forecast-book-report-2019-6">Learn More Now</a></li></ol>The choice is yours. But however you decide to acquire this report, you've given yourself a powerful advantage in your understanding of the fast-moving world of digital payments.

THE PAYMENTS FORECAST BOOK 2019: 22 forecasts of the global payments industry's most impactful trends - and what's driving them

<ul class="summary-list"><li>This is a preview of THE PAYMENTS FORECAST BOOK 2019 research report from Business Insider Intelligence.</li><li><a href="https://www.businessinsider.com/intelligence/bi-intelligence-payments-research-bundle?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=top_text&amp;itm_term=bundle_subscription_text_link-the-payments-forecast-book-report-2019-6">14-Day Risk Free Trial: Get full access to this and all Payments industry research reports.</a></li></ul>As cash usage declines slowly worldwide, the digital payments ecosystem is swelling around the globe: Noncash transactions are poised to exceed 1 trillion for the first time in 2023, driven by increased card penetration, wider access to mobile phones, and more access to payments infrastructure. In emerging markets, these changes will be driven by Asia, which remains at the helm of digital transformation in payments as customers in major markets like China, India, and Southeast Asia flock to wallets like Alipay and Paytm and super-apps like WeChat and Grab in lieu of cash and cards for their payments, both online and in-store.Change looks different in mature markets like the US, where the overall expansion of the digital payments market will remain more tempered, but mobile's impact will surge as customers move from PCs to mobile and other emerging connected devices for their online shopping, and replace small-dollar cash P2P transactions with mobile apps like Venmo and Zelle. For providers looking to make inroads in the space, understanding the dynamics of these changes will be key to growth.In the 2019 edition of the <a href="https://intelligence.businessinsider.com/post/the-payments-forecast-book-2019-22-forecasts-of-global-payment-industrys-most-impactful-trends-and-whats-driving-them-2019-6">Payments Forecast Book</a>, Business Insider Intelligence will forecast growth in the major sectors of the payments ecosystem worldwide, with a particular look at the US market.The forecast book, presented as a slide deck, highlights change by region in areas like noncash transactions, e-commerce, card adoption, and terminal penetration, and examines key areas of change, including contactless transactions, fraud, and mobile payments. Within each category, it provides insight into what the market will look like in 2024 and identifies key factors that will accelerate and inhibit growth.The companies mentioned in this report are: Affirm, Alibaba, Amazon, Clover, Discover, Google, Grab, iZettle, NACHA, Klarna, Mastercard, PayPal, Square, Starbucks, The Clearing House, Venmo, Visa, Verifone, Zelle,Here are some key takeaways from the report:<ul><li>Globally, noncash transactions will exceed 1 trillion in 2024, driven by growth in APAC, which will comprise 40% of transactions by 2024.</li><li>Card adoption will grow rapidly in markets like Latin America and the Middle East to 2024, but stagnate in sub-Saharan Africa, where customers largely transact through nonbank methods.</li><li>US retail spending will grow modestly, but e-commerce will nearly double its share of total retail sales by 2024 as customers do more everyday shopping online.</li><li>Card payments will tick up as US customers continue to abandon cash, but mobile will remain the brightest growth driver, coming to comprise 44% of the $1.9 trillion in e-commerce and 68% of the $760 billion in P2P payments in 2024.</li></ul>In full, the report:<ul><li>Identifies big-picture trends moving the needle in the payments ecosystem both globally and in the US.</li><li>Forecasts growth in key sectors, including noncash transactions, card and terminal penetration, fraud, e-commerce, and mobile payments, through 2024.</li><li>Discusses what the global payments market will look like in 2024, and how that differs from the present.</li><li>Highlights key growth engines and inhibitors that will drive change between now and 2024.</li></ul>Interested in getting the full report? Here are two ways to access it:<ol><li>Purchase &amp; download the full report from our research store. &gt;&gt;<a href="https://store.businessinsider.com/products/the-payments-forecast-book?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-the-payments-forecast-book-report-2019-6&amp;vertical=payments#!/">Purchase &amp; Download Now</a></li><li>Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/bi-intelligence-payments-research-bundle?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=learn_more_text&amp;itm_term=bundle_subscription_text_link-the-payments-forecast-book-report-2019-6">Learn More Now</a></li></ol>The choice is yours. But however you decide to acquire this report, you've given yourself a powerful advantage in your understanding of the fast-moving world of digital payments.

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