This is a preview of THE PAYMENTS FORECAST BOOK 2019 research report from Business Insider Intelligence. 14-Day Risk Free Trial: Get full access to this and all Payments industry research reports. 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.
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See Also:
- McKinsey says payments companies could see a $210 billion hit from the coronavirus pandemic. Here are the 10 most important things execs need to know about managing the crisis.
- Demand for same-day pay is exploding amid record joblessness. Here are 4 startups that could benefit.
- 11 fintech investors share advice they are giving startups to help them get through a market downturn and funding drought. 'This isn't measure 10 times and cut once. This is just make the cut.'
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