Stripe launched its in-store POS system in Singapore as the wider region sees growing digital payment use and demand for unified commerce.

Southeast Asia emerges as a mobile-first consumer economy: Online food delivery, grocery sales, and digital payments to benefit as internet accessibility expands in the region.

In Latin America in 2022, digital payments will make gains, consumer expectations around ecommerce will shift, corporate sustainability and social issues will come to the fore, SMBs will bank on social commerce, and retail media networks will make their presence felt.

Worldline partnered with Japan-based Vesca to process digital payments, which can give it an early mover advantage as cashlessness grows.

The offering gives small merchants an affordable digital payments tool and could complement existing POS tech for large businesses.

Mobile proximity and peer-to-peer (P2P) payments have hit the mainstream, thanks to a pandemic-driven upswing in digital payments that is set to last. This trend is leading providers to diversify their offerings and compete for share of the market.

Why it’s worth watching: Digital payments are quickly replacing cash in Africa—making the region an attractive destination for digital payment powerhouses like Visa. Cash use in the Middle East and Africa slid 16.3% annually in 2021 and is expected to decline nearly 30% between 2021 and 2025, according to FIS. This trend may be why global payment players are ramping up their presence in the region:.

Mastercard also teamed up with issuer-processor i2c and digital payments provider One Global to issue mobile wallets, per Zack’s. The alliance will let banks, fintechs, and merchants access a broad set of financial tools to develop digital payment solutions for consumers in the Middle East and Africa.

Clover Sport can help Fiserv offer more tailored services to sports and entertainment venues through digital payment tools, attracting a wider base of clients and driving revenues. Related content: Check out the “Point-of-Sale” section of our payments ecosystem report collection to learn more about how providers are tapping verticalization.

Open banking payments are inherently more secure than other digital payments because no personal payment details are shared between the customers and merchants. These payments require user authentication and can also have additional forms of authentication built into the checkout flow, depending on the payment provider.

Remittances, cross-border B2B payments, card payments, and digital payments comprise virtually all global cryptocurrency transaction value and will continue to do so through 2023.

Consumers are using less cash and opting for digital payment methods like mobile wallets instead: The number of global proximity mobile payment users is expected to grow 5.3% year over year (YoY) in 2022 and hit 1.345 billion, according to Insider Intelligence forecasts.

Digital Payments Growth Cuts Costs, Eases Automation. Checks’ longtime hold on the US B2B payments space is losing ground to digital methods, according to our forecast, meaning fewer payments for businesses to manually log. The rise of two digital payment methods is making it easier for businesses to automate, as more payments coming in digitally means simpler inputs to automated systems:.

Digital payments are replacing cash. Last year, the share of POS payments made with cash dropped 5.1% year over year (YoY) in Europe, per FIS, absorbed by cards and other digital payment methods. And 59% of global small businesses said they are already cashless or plan to only accept digital payments within the next two years, per Visa. Contactless transactions are growing more popular.

Plummeting global cash usage will lead a wider variety of sellers to mPOS as a quick, affordable digital payment acceptance solution. After global NFC-enabled mPOS shipments comprised 29% of total shipments in 2020, they will grow to hit 46.7 million in 2025, according to Berg Insight, driven by sellers new to digital payments and upgrades from existing merchants.