The use of global payments cards is expected to rise by 28 percent by 2021, reaching 17 billion. In certain areas around the world — namely, the Middle East, Africa and the Asia-Pacific regions —the growth of cards is expected to be the fastest, showing increased growth of anywhere from 10 to 13 percent.
A new study released by RBR Research confirmed that the trend of debit card growth surpassing that of credit cards is one that is not expected to go away anytime soon. The report explained that the digitalization of salary and government benefit payments is a significant driver of the double-digit growth.
Here are the numbers:
28 percent | The increase in global payment card growth expected by 2021
72 percent | The percentage of growth debit cards alone will see by 2021
17 billion | The predicted number of payment cards circulating in global markets over the next 5 years
70 percent | The amount of the global payment cards represented by debit cards