Cash is King? Not for long.
E-Payment market expected to reach $132.5 billion by 2025
The Future of Payments
The global payments ecosystem is constantly evolving into a complex global network. As Fintech companies continue to disrupt the way money moves around the world, businesses of all sizes need to keep informed about the changing payments landscape. According to a report by Grand View Research, the global digital payments market is expected to reach $132.5 billion by 2025, based on a compound annual growth rate of 17.6% over the following six years. With the burgeoning use of smartphones and a steady rise of neobanks globally, it’s only up from here for the digital payment market in years to come.
More than just convenience
Contrary to popular belief, digital payment systems bring a lot more than just convenience to the table for both businesses and consumers. Other than eradicating risks for consumers that comes with handling cash money or timesaving in terms of being able to complete transactions in a matter of seconds, digital payment systems as well simplify operations for businesses. Electronic payment systems work to significantly optimize workflow, saving businesses money by reducing expenses spent on time, work and papers. Fraud prevention and improvement in data accuracy are also key factors that will result in the steady growth of the digital payments market globally.
Riding with the evolution
With the partnership of UnionPay, Aleta Planet has enabled Chinese nationals in Singapore to remit money back to China in 60 seconds through UnionPay’s cross-border remittance service MoneyExpress. Transactions will be conducted on a secure UnionPay network using a unique proprietary application programming interface, blocking any third-party during the process.
Aleta Planet understands that meeting the demands of today’s consumer in the digital payments sector can be as exciting as it is challenging, thus we strive to continue to provide seamless, secure and more efficient ways to revolutionize and challenge the global digital payment eco-system with our services.