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Global Digital Payment Transactions Set to Reach 10 Percent Growth for First Time, New Report

Global digital payment volumes continue to increase, with annual growth projected to top 10 percent for the first time to reach 426.3 billion transactions in 2015, up from the record-setting 8.9 percent growth in 2014 (387.3 billion transactions). This is according to the World Payments Report 2016 (WPR) released today by Capgemini, a global leader in consulting, technology, and outsourcing, and BNP Paribas, a global banking player and recognized leader in transaction banking and cash management.

The growth in digital payment transactions is largely being driven by strong economic growth in key developing countries, improved security measures such as EMV[1] and biometrics, and government initiatives designed to encourage electronic payments in developing markets, as the cost of cash continues to rise. However, this growth comes as banks face increasing demand for seamless, secure digital transaction services, particularly from corporate customers, s ...

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