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Investing in Digitisation of Cash
Understanding the Digitisation of Cash: Exploring New Frontiers with Maybank Strategic Growth-I Fund
Global card penetration rates continue to expand, steadily gaining market share from other payment methods.
Diagram below shows the proportion of personal consumption expenditures (“PCE”) that is transacted using via card payments are increasing over alternatives such as cash or alternative digital payments.
As global e-commerce market is expected to grow at a 14.4% compound annual growth rate (“CAGR”), this will translate to wider card adoption as more than 90% of e-commerce transaction are executed by card.
These factors will help drive global card penetration rates higher as more consumers decide to use cards for their daily spending patterns.
This creates a $68 billion opportunity for the payments industry which is expected to grow to $91 billion by 2026, benefiting companies across the entire supply chain.
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