Today In Data

Tapping Into Expanding Opportunity

With strong economic growth, the overall cash usage is expected to hit $3.5 trillion by 2020 — up from $3.06 trillion in 2015.

While cash was once king on a global stage, digitization is marching forward, and quickly. Case in point: Australia, where cash still has a prominent place, but digitization is capturing ground. The question is how to keep up with consumer demands in an increasingly digital environment, where customers are becoming ever more demanding of not just service, but the right service. Half of all online shoppers have bailed on a shopping experience just because they couldn’t pay how they wanted to. Or how to make sure new markets — like the new legal betting market in the U.S. — remain clear, clean and compliant. And, of course, how to leverage enough security advances to keep out the cybercriminals who want to follow — and rob — the digitally migrating crowds.

$2 billion to $6 billion: The total estimated value of the legal sports betting market unleashed by the Supreme Court.

250 percent: The amount card-not-present fraud has grown since 2012.

50 percent: The share of online shoppers who have abandoned a purchase because they couldn’t use their preferred payment method.

11 percent: The share of purchases made in cash in Australia in 2016.

135: The number of ATMs per 100,000 people in Australia in 2016.



Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.