The chart illustrates the compound annual growth rate (CAGR) of global payments revenues across different regions from 2013 to 2023. Latin America shows a significant decline in growth rate, dropping from 14% in 2013-2018 to an estimated 7% in 2018-2023. This suggests a potential saturation or economic challenges affecting the region's digital payment expansion. In contrast, EMEA (Europe, Middle East, and Africa) experiences a notable increase, with growth rates rising from 2% to 5%, indicating a burgeoning market for cashless transactions. North America maintains a steady growth, slightly increasing from 5% to 6%, reflecting a mature market with consistent adoption of digital payments. The Asia-Pacific region, however, stands out with a robust growth rate, moving from 7% to 8%, highlighting its position as a leader in digital payment innovations and adoption. This trend underscores the region's rapid technological advancements and increasing consumer preference for cashless transactions. The data reveals intriguing regional dynamics, with emerging markets like EMEA catching up, while established markets like North America and Asia-Pacific continue to lead in digital payment growth. These insights are crucial for stakeholders aiming to strategize and invest in the global digital payments landscape.
