In a study, designed to provide banks, payment processors and retailers with a road map for the next decade to help plan their payments business strategies, its indicated payments will double worldwide by 2010, but the details are more interesting.

Finextra: Global electronic payment volumes to double by 2010

The annual number of electronic payment transactions, currently at approximately 210 billion worldwide, are expected to double by the end of the decade, according to research released by ACI Worldwide.

The individual markets of different growth profiles:

The Eastern Europe and Asia/Pacific regions are forecast to lead the world in electronic payment transaction growth, predicted at 21.6% and 19.2% respectively, for the period of 2004 to 2009.Other regions including the Middle East, are forecast to increase 15.9% and NAFTA (North American Free Trade Alliance) expected to grow 12.3%.

During the five-year period from 2004 to 2009, forecast volumes are expected to double across the world, with China and India doubling more quickly at a rate of every three and four years, respectively. 

Relevance to Bankwatch: Background for development of payments strategy.ACIStudy.pdf

Technorati Tags: payments bankwatch_relevance_strategy