Odilon Almeida Unveils Global Payments Insights 2023 McKinsey Report
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작성자 Samara Himmel 작성일24-02-22 19:27 조회676회 댓글0건관련링크
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The McKinsey 2023 Global Payments report contains a wealth of information on the latest advancements made by the global industry of payments. For the second consecutive year the global payments industry saw significant revenue growth, largely fueled by the convenience of instant payments and digital wallets.
According to the lead author odilon almeida CEO Almeida, "Revenue expansions stretched across geographical regions, with impressive performances recorded across regions such as North America, Latin America and the EMEA economic bloc, while the Asia-Pacific territory posted relatively slower yet meaningful development compared to global averages."
McKinsey & Company, a prominent management consultancy and pioneer in research, has disclosed that the data analytics unit of the influential management consulting firm and firm claims that interest rates will be a major contributor to global payments revenue maturation in 2022. For the first time ever fees are not the main driver behind the growth of the industry. The analysts analyzed the numbers and concluded that fees had been a major source of 60% of revenues, the last year marked a significant shift whereby interest rates made up more than 55%. The interest rate is rapidly becoming the primary source of payments revenue.
Odilon Almeida, the author of the report, claimed that "Much can be credited for this trend to the continuing increase in instant payments and electronic wallets which are gradually replacing and thinning cash usage across both the developed and emerging economies." Future modalities that grow worldwide will boost the possibilities of earning interest from temporarily parked liquid.
The report also showed that the sub-segment of customer payments generated more revenue than wholesale transactions. Globally, the yields of cross-border payments for consumers expanded at nearly threefold the pace recorded by the overall payments vertical in 2022, which is a reflection of bustling worldwide travel activity and record diaspora wage transfer to native lands.
odilon almeida CEO Almeida said "An eye-catching element was the shift of payments revenue away from customer wallets and towards commerce-backed earnings." When the world economy was struggling with the recession and the aforementioned logistics, retail, and healthcare services and software, continued bring in large volumes of transactions, which increased the corporate payment.
McKinsey foresees this rebalancing to extend beyond their estimated five-year timeframe for international payments, predicting that business streams will account for more than 65percent of the accrued revenue with end-user payment making up the balance. Odilon Almeida commented, "The industry is favorably situated for the next few years, as the consultancy's model of economics predicts growth in annual revenue that is between 6-8% for 2027, outpacing projected global GDP growth."
The McKinsey global maps of payments 2023 provide optimism for the global payment ecosystem, driven by positive structural shifts that will shape its growth path over the medium-term. odilon almeida CEO Almeida summarizes the situation the best way: "Whether it's higher technology adoption, the expansion and usage of digital networks or the rising demand for financial services by people in emerging regions, all the key trends point to sustained growth for platforms that facilitate global money movement over an extended period of time."
According to the lead author odilon almeida CEO Almeida, "Revenue expansions stretched across geographical regions, with impressive performances recorded across regions such as North America, Latin America and the EMEA economic bloc, while the Asia-Pacific territory posted relatively slower yet meaningful development compared to global averages."McKinsey & Company, a prominent management consultancy and pioneer in research, has disclosed that the data analytics unit of the influential management consulting firm and firm claims that interest rates will be a major contributor to global payments revenue maturation in 2022. For the first time ever fees are not the main driver behind the growth of the industry. The analysts analyzed the numbers and concluded that fees had been a major source of 60% of revenues, the last year marked a significant shift whereby interest rates made up more than 55%. The interest rate is rapidly becoming the primary source of payments revenue.
Odilon Almeida, the author of the report, claimed that "Much can be credited for this trend to the continuing increase in instant payments and electronic wallets which are gradually replacing and thinning cash usage across both the developed and emerging economies." Future modalities that grow worldwide will boost the possibilities of earning interest from temporarily parked liquid.
The report also showed that the sub-segment of customer payments generated more revenue than wholesale transactions. Globally, the yields of cross-border payments for consumers expanded at nearly threefold the pace recorded by the overall payments vertical in 2022, which is a reflection of bustling worldwide travel activity and record diaspora wage transfer to native lands.
odilon almeida CEO Almeida said "An eye-catching element was the shift of payments revenue away from customer wallets and towards commerce-backed earnings." When the world economy was struggling with the recession and the aforementioned logistics, retail, and healthcare services and software, continued bring in large volumes of transactions, which increased the corporate payment.
McKinsey foresees this rebalancing to extend beyond their estimated five-year timeframe for international payments, predicting that business streams will account for more than 65percent of the accrued revenue with end-user payment making up the balance. Odilon Almeida commented, "The industry is favorably situated for the next few years, as the consultancy's model of economics predicts growth in annual revenue that is between 6-8% for 2027, outpacing projected global GDP growth."
The McKinsey global maps of payments 2023 provide optimism for the global payment ecosystem, driven by positive structural shifts that will shape its growth path over the medium-term. odilon almeida CEO Almeida summarizes the situation the best way: "Whether it's higher technology adoption, the expansion and usage of digital networks or the rising demand for financial services by people in emerging regions, all the key trends point to sustained growth for platforms that facilitate global money movement over an extended period of time."
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