Abstract:

The existence of a modern global financial system is currently not possible without cashless payments made in various ways, including using bank cards. The world volume of non-cash transactions grew by 10.1% and reached $ 482.6 billion. The main beneficiaries of this growth were the following regions of the world: Asia (25.2%); countries of Central and Eastern Europe, the Middle East and Africa (17.1%). The share of developed markets is 66.3% of the total volume of cashless transactions. It should be noted that countries with developed economies over the past decade have lost about 20% of their share in the total volume of non-cash money transfers. The main reason for this is the increase in the number of cashless money transfers in emerging markets that, using advanced money transfer systems, outperform the outdated payment systems common in developed markets in terms of their growth rates. According to forecasts, emerging markets will overtake developed markets by volume of cashless payments by 2021. It is also expected that the United States will gradually lose leadership in cashless payments and cede it to China by 2021. The United States of America continues to dominate in terms of the number of non-cash transactions, reaching a volume of $ 148.5 billion. At the same time, the volume of transactions in relative terms increased by 5.7% compared to 2015.