Amidst all of this disruptive change, one development in particular – while somewhat slower to play out – will change the very dynamics of the sector: the shift East. The facts are undeniable: in 2010 alone, Asia’s share of global payment transaction volumes on general purchasing cards increased from 26 percent to 31 percent. By 2015, Asia’s purchasing volume is expected to be double that of the United States’.
With this in mind, KPMG China brought together some of the industry’s top payments professionals and recognized banking leaders to share their insight into how the payments sector is transforming and influencing the future direction of payments globally and regionally. Through a series of practical and comprehensive articles, these thought leaders have picked apart some of the great complexities in the market and provided practical and actionable advice for payments players, both foreign and domestic. Below are the articles along with a summary report which features commentary and advice following our participation at Sibos, the global payments conference.