Asia-Pacific Leads in Non-Cash Transaction Growth

As the volume of non-cash transactions continues to rise, Asia-Pacific has emerged as one of the fastest-growing regions for non-cash transactions, according to the Capgemini Research Institute.

The World Payments Report 2025 revealed that non-cash transactions in Asia-Pacific saw a 20% year-on-year increase in 2024, compared to rises of 16% in Europe and 6% in North America.

The report also found that the volume of non-cash transactions has surged, with figures increasing to 1.41 trillion in 2023 and on track to reach 1.65 trillion this year.

This growth trend is expected to continue until the volume of transactions reaches 2.84 trillion by 2028, as today’s customers tend to prefer a frictionless payment experience,

In particular, instant payments are set to account for 22% of all non-cash transactions by 2028.

Jeroen Hölscher, global head of payment services at Capgemini, said:  “The continued surge in non-cash transactions is a watershed moment for banks and payment service providers. The data indicates an inevitable shift to a future of payments that is instant and open.”

Globally, 77% of executives identified e-commerce growth as a key factor to accelerate the shift to non-cash transactions. Meanwhile, two-thirds of those surveyed view the expansion of instant payments as a crucial driver.

Despite the growing demand for instant payments, banks appear unprepared, as only 5% demonstrate strong business and technology readiness to solidify their position as instant payment adoption leaders.

Meanwhile, only 13% of European banks can claim a strong technological foundation for instant payments.

Weak defenses and potential liquidity concerns mean that many banks choose to receive but not to send instant payments. This is evident as only 25% of banks can receive instant payments and just 53% are fully capable of sending and receiving them.

This is particularly relevant for EU banks and payment service providers, as the October 2025 deadline for the Instant Payment Regulation is approaching, which will require all institutions to provide full instant payment send and receive capabilities.