Account-to-Account Payments Set to Revolutionize Shopping, with E-commerce Payments Reaching $525 Billion Globally: Worldpay from FIS 2023 Global Payments Report

Key facts

Emerging trend: Account-to-account payments continued to gain momentum in 2022 to account for US$525 billion in global e-commerce transaction value.
Global forecast: Global e-commerce market is set to be worth nearly US$8.5 trillion in 2026.
Shift in balance of U.S. payments: For the first time, digital wallets surpassed credit cards to become the leading payment method among U.S. consumers shopping online with 32 percent of e-commerce transaction value in 2022.

In 2022, account-to-account (A2A) payments continued to grow across the globe, with the expansion of real-time payment systems helping to provide faster, safer and more convenient payments for consumers at the checkout, according to a new report released today from global financial technology leader FIS^® (NYSE: FIS).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230323005062/en/

The Worldpay from FIS Global Payments Report 2023 examines how consumers pay today both in-store and online across 40 global markets. Findings from the 2023 report show that in 2022, there were almost 70 real-time payment (RTP) schemes providing high-speed payment rails that helped drive A2A payments to account for US$525 billion in global e-commerce transaction value, up 13 percent from US$463 billion in 2021.

A2A payments already have business-to-business (B2B) and person-to-person (P2P) use cases. This research shows A2A is increasingly a force in person-to-business (P2B) payments. A2A payments flow directly and often instantly from a consumer's bank account to a merchant's account, helping to drive down the cost of acceptance for merchants.

"It's not hard to see why account-to-account (A2A) payments are gathering momentum. While it is significantly more convenient for consumers it also brings a host of benefits for merchants," said Jim Johnson, President of Worldpay Merchant Solutions, FIS. "A2A payments can reduce the cost of payment acceptance in comparison to cards, while offering the instant settlement of funds and boosting their cash flow. Some merchants are even offering customers incentives to pay with A2A, which is certainly helping it gain traction."

The growth of A2A in the U.S. mirrors the global trend, with A2A accounting for 9 percent of e-commerce transaction value in 2022. This is projected to grow to 11 percent in 2026 ¹ , fueled in part by consumer use cases arising from the 2023 launch of FedNow, the new real-time payments network, which will join existing U.S. real-time payment networks RTP® from The Clearing House and Zelle.

Global Payment Trends:

The explosive growth in global e-commerce that took place during the first two years of the pandemic cooled in 2022, but only slightly, with global e-commerce transaction value growing by 10 percent from 2021 to 2022, to reach nearly US$6 trillion.
Across the globe, consumers' use of credit cards remains strong, with credit card transaction value growing 6 percent in e-commerce and 12 percent at the point of sale (POS) from 2021-2022.
Credit demand is also broadening to alternative credit products: credit card-linked digital wallets, buy now pay later (BNPL) and other POS financing offerings. BNPL accounted for 5 percent of global e-commerce transaction value in 2022, and is projected to rise to 6 percent by 2026. POS financing – including BNPL, retailer financing and bank financing – represented 2 percent of POS transaction value in 2022, a share it is projected to maintain through 2026.
Digital wallets continue to be the leading payment method globally, accounting for 49 percent of transaction value in e-commerce and 32 percent at the POS in 2022.
Digital wallets are projected to remain the leading payment method across e-commerce (54 percent) and POS (43 percent) in 2026, with fintechs, banks, neobanks, super apps, Big Tech and device manufacturers all competing as wallet providers.
Cash use continues to fall globally, from 26 percent of POS transaction value in 2019 to 16 percent in 2022. By 2026, cash's share of global POS transaction value is expected to fall to less than 10 percent.

U.S. Payment Trends:

U.S. consumers continue their long-standing attachment to cards, with cards accounting for more than two-thirds of POS transaction value in 2022 (credit cards with 40 percent, debit cards with 31 percent).
Debit cards (20 percent) and credit cards (30 percent) comprised half of e-commerce spend in 2022.
Despite the popularity of cards overall, digital wallets became the single leading payment method among U.S. consumers shopping online in 2022, with 32 percent of e-commerce transaction value.
U.S. consumers are turning to wallets, but not turning away from cards, with 31 percent of U.S. respondents saying they funded their wallets with credit cards, while 33 percent indicated funding by debit card.

"Despite the effects of inflation on consumer spending power and the threat of a global economic slowdown, e-commerce has continued to grow in all regions and markets," Johnson added. "Innovation in payment solutions is running at a hot pace right now, greatly improving the experience for customers, reducing headaches for merchants, and unlocking new avenues for growth. Meeting consumer demand for advanced payments features now can help businesses thrive through economic troubles, while potentially gaining market share from competitors."

About The Global Payments Report

The Worldpay from FIS Global Payments Report 2023 offers a snapshot of today's payments landscape: globally, by region and in 40 select markets. The report tracks consumer payments when shopping online and at the point of sale, identifies key payment trends, and projects future scenarios for payment method shares as well as market size. The report's data was collected using a survey of 46,000 consumers, secondary research, and extensive validation by payments experts from each region; the complete research methodology is published as an appendix to the report. Published continuously since 2015, the Global Payments Report is an industry benchmark used by merchants, financial institutions, press and researchers around the world.

To download the complete copy of the report, please visit https://www.fisglobal.com/en/global-payments-report .

About FIS

FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world's economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500 ^® and the Standard & Poor's 500 ^® Index. To learn more, visit fisglobal.com . Follow FIS on Facebook , LinkedIn and Twitter ( @FISGlobal ).

^{_______________________________
1} Projections are based on FIS' internal analysis and ongoing consultation and collaboration with industry experts; please see the full methodology in The Global Payments Report.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230323005062/en/

Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com

News Provided by Business Wire via QuoteMedia

fintech investing fidelity national information services Fintech Investing

FIS

Streamplay Studio Enters into Agreement to Acquire North American Indie Gaming Leader, Noodlecake Studios

Streamplay Studio Limited (“Streamplay” or the “Company”) (ASX: SP8), is pleased to announce that it has entered into a binding Share Sale Agreement (“SSA”) to acquire 100% of Noodlecake Studios Inc. (“Noodlecake”), a profitable North American indie gaming company headquartered in Canada, from its parent company Zplay (HK) Technology Co. Limited (“Zplay”). The addition of Noodlecake aligns with Streamplay’s strategic direction, including the recent appointment of Silicon Valley tech advisor Paolo Privitera (ASX: 8 October 2024) to the board of directors, strengthening the Company’s North American and global gaming footprint.

Keep reading...Show less

Zero Candida Applies to List its Shares on the TSX Venture Exchange

Zero Candida Technologies Inc. (the "Company" or "Zero Candida") (TSXV: ZCT), a technology company focused on development and commercial exploitation of a number of patents and patent applications with respect to an AI smart tampon-like device, designed to treat Candidiasis and transfer the medical information via Wi-Fi to the doctor, is pleased to announce that it has filed its application to list the Company's common shares (the " Common Shares ") on the TSX Venture Exchange (the " TSXV "). The application is available under the Company's profile on SEDAR+.

Zero Candida (formerly 1319743 B .C. Ltd.), has recently completed its business acquisition of Zero Candida Ltd., an Israeli private company ("ZC" and "Acquisition" respectively). In connection with the completion of the Acquisition, the Company changed its name to Zero Candida Technologies Inc. and split its share capital on a fifty-five thousand five hundred fifty five (55,555) common shares for one (1) common share basis, so that 36 common shares of the Company, without par value which were issued and outstanding immediately before completion of the Acquisition, were split into 2,000,000 common shares without par value. Pursuant to the terms of the Acquisition, the Company issued a total of 17,533,037 common shares (9.6165 common shares in the capital of the Company for each ordinary share in the capital of ZC) (the " Payment Shares "). Following completion of the Acquisition, ZC became a wholly-owned subsidiary of the Company. In addition, in connection with closing of the Acquisition, the Company issued 1,450,643 incentive stock options to employees of ZC (9.6165 incentive Options in exchange for each currently outstanding ZC Option). The terms of the exercise of the Options shall be consistent with the terms of the originally issued underlying ZC securities.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Real Matters Announces Changes to its Board of Directors

Real Matters Inc. ("Real Matters" or the "Company"), a leading network management services provider for the mortgage lending and insurance industries, today announced that Lisa Melchior will be stepping down after serving on the Real Matters Board since 2017. The Company also announced the appointment of Kay Brekken to its Board of Directors. Ms. Brekken will succeed Ms. Melchior as a member of the Compensation, Nomination and Governance Committee. The changes are effective May 7, 2024.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240507719548/en/

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Real Matters to Hold Virtual Annual General Meeting on February 8, 2024

Real Matters Inc. ("Real Matters"), a leading network management services provider for the mortgage lending and insurance industries, will be holding its Annual General Meeting (the "Meeting") on Thursday, February 8, 2024 at 10:00 a.m. (Eastern Standard Time). The Meeting will be conducted online only, via audio webcast at: www.virtualshareholdermeeting.com/realmatters2024 .

Registered and non-registered shareholders entitled to vote at the Meeting may vote by proxy in advance of the Meeting. However, only registered shareholders and duly appointed proxyholders (including non-registered shareholders who have duly appointed themselves as proxyholder) will be entitled to vote at the Meeting during the live audio webcast. Non-registered shareholders who have not duly appointed themselves as proxyholders will be able to attend the Meeting and ask questions, but will not be able to vote. Guests will be able to attend the Meeting but will not be able to submit questions, vote their shares (if any) or otherwise participate in the Meeting. Please note that registered shareholders will need the 16-digit control number indicated on the form of proxy accompanying their Notice of Meeting to log on to the Meeting as a "Shareholder". Duly appointed proxyholders will need the Appointee Name and 8-character Appointee Identification Number to log on to the Meeting as a "Proxyholder / Appointee". Otherwise, shareholders or duly appointed proxyholders, as applicable, will have to log on as "Guests". Please refer to the Company's Management Information Circular in the Investor Relations section of our website for additional details on how to log on to the Meeting.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

(millions of dollars)		Quarter ended											Six months ended					%
		2024		2024		2023		2023		2023	% Change				2024		2023	Change
		Q2		Q1		Q4		Q3		Q2	Quarter over Quarter	Year over Year		March 31		March 31		Year over Year
Consolidated
Revenue	$	42.2	$	35.4	$	42.2	$	46.0	$	37.6	19%	12%		$	77.6	$	75.8	2%
Net Revenue ^(A)	$	11.5	$	9.7	$	11.2	$	12.1	$	9.9	19%	16%		$	21.2	$	19.7	8%
Adjusted EBITDA ^(A)	$	0.7	$	(1.1)	$	0.6	$	1.7	$	(1.7)	166%	142%		$	(0.4)	$	(4.6)	92%
Net income (loss)	$	2.1	$	(3.6)	$	1.6	$	(0.6)	$	(2.6)	158%	181%		$	(1.5)	$	(7.2)	79%
Net income (loss) per diluted share	$	0.03	$	(0.05)	$	0.02	$	(0.01)	$	(0.04)	160%	175%		$	(0.02)	$	(0.10)	80%
Adjusted Net income (loss) ^(A)	$	1.3	$	(1.2)	$	0.8	$	1.0	$	(1.9)	207%	168%		$	0.1	$	(4.0)	103%
Adjusted Net income (loss) ^(A) per diluted share	$	0.02	$	(0.02)	$	0.01	$	0.01	$	(0.03)	200%	167%		$	-	$	(0.06)	100%

U.S. Appraisal segment
Revenue	$	32.6	$	26.8	$	31.2	$	33.5	$	28.0	22%	16%		$	59.3	$	56.3	6%
Net Revenue ^(A)	$	9.2	$	7.5	$	8.6	$	9.2	$	7.7	23%	19%		$	16.6	$	15.4	9%
Net Revenue ^(A) margin		28.3%		27.9%		27.5%		27.5%		27.6%					28.1%		27.3%
Adjusted EBITDA ^(A)	$	4.4	$	2.7	$	3.9	$	4.8	$	3.1	65%	40%		$	7.1	$	5.5	30%
Adjusted EBITDA ^(A) margin		47.9%		35.8%		46.0%		52.0%		40.6%					42.5%		35.5%

U.S. Title segment
Revenue	$	2.0	$	2.0	$	2.3	$	2.6	$	2.2	0%	-9%		$	4.1	$	4.6	-11%
Net Revenue ^(A)	$	0.9	$	1.0	$	1.0	$	1.2	$	0.8	-7%	9%		$	1.9	$	1.6	13%
Net Revenue ^(A) margin		44.0%		47.3%		45.0%		45.2%		36.8%					45.7%		35.7%
Adjusted EBITDA ^(A)	$	(1.7)	$	(1.6)	$	(1.6)	$	(1.6)	$	(2.3)	-2%	28%		$	(3.3)	$	(5.2)	37%
Adjusted EBITDA ^(A) margin		-184.8%		-167.9%		-150.4%		-133.6%		-279.3%					-176.0%		-316.4%

Canadian segment
Revenue	$	7.6	$	6.6	$	8.7	$	9.9	$	7.4	15%	2%		$	14.2	$	14.9	-5%
Net Revenue ^(A)	$	1.4	$	1.2	$	1.6	$	1.7	$	1.4	15%	3%		$	2.7	$	2.7	-2%
Net Revenue ^(A) margin		18.9%		18.8%		17.9%		17.6%		18.7%					18.8%		18.3%
Adjusted EBITDA ^(A)	$	0.9	$	0.7	$	1.2	$	1.3	$	1.0	26%	-8%		$	1.6	$	1.8	-13%
Adjusted EBITDA ^(A) margin		62.3%		56.8%		72.9%		73.7%		69.8%					59.7%		67.0%

Corporate segment
Adjusted EBITDA ^(A)	$	(2.9)	$	(2.9)	$	(2.9)	$	(2.8)	$	(3.5)	-4%	16%		$	(5.8)	$	(6.7)	14%

						Quarter ended					Six months ended
		Q2 2024		Q1 2024		Q4 2023		Q3 2023		Q2 2023	March 31, 2024		March 31, 2023

Net income (loss)	$	2.1	$	(3.6)	$	1.6	$	(0.6)	$	(2.6)	$	(1.5)	$	(7.2)
Operating expenses		11.2		11.6		10.9		10.7		11.9		22.8		25.1
Amortization		0.8		0.8		0.9		1.0		1.0		1.6		2.0
Restructuring expenses		-		-		-		-		0.4		-		1.7
Interest expense		0.1		0.1		0.1		0.1		0.1		0.2		0.2
Interest income		(0.4)		(0.4)		(0.3)		(0.2)		(0.2)		(0.8)		(0.3)
Net foreign exchange (gain) loss		(2.2)		2.0		(1.8)		1.8		0.1		(0.2)		1.1
Loss (gain) on fair value of derivatives		0.1		(0.2)		(0.1)		(0.5)		(0.3)		(0.1)		(0.3)
Income tax recovery		(0.2)		(0.6)		(0.1)		(0.2)		(0.5)		(0.8)		(2.6)
Net Revenue	$	11.5	$	9.7	$	11.2	$	12.1	$	9.9	$	21.2	$	19.7

						Quarter ended					Six months ended
		Q2 2024		Q1 2024		Q4 2023		Q3 2023		Q2 2023	March 31, 2024		March 31, 2023

Net income (loss)	$	2.1	$	(3.6)	$	1.6	$	(0.6)	$	(2.6)	$	(1.5)	$	(7.2)
Stock-based compensation expense		0.4		0.8		0.3		0.3		0.3		1.2		0.8
Amortization		0.8		0.8		0.9		1.0		1.0		1.6		2.0
Restructuring expenses		-		-		-		-		0.4		-		1.7
Interest expense		0.1		0.1		0.1		0.1		0.1		0.2		0.2
Interest income		(0.4)		(0.4)		(0.3)		(0.2)		(0.2)		(0.8)		(0.3)
Net foreign exchange (gain) loss		(2.2)		2.0		(1.8)		1.8		0.1		(0.2)		1.1
Loss (gain) on fair value of derivatives		0.1		(0.2)		(0.1)		(0.5)		(0.3)		(0.1)		(0.3)
Income tax recovery		(0.2)		(0.6)		(0.1)		(0.2)		(0.5)		(0.8)		(2.6)
Adjusted EBITDA	$	0.7	$	(1.1)	$	0.6	$	1.7	$	(1.7)	$	(0.4)	$	(4.6)

						Quarter ended					Six months ended
		Q2 2024		Q1 2024		Q4 2023		Q3 2023		Q2 2023	March 31, 2024		March 31, 2023

Net income (loss)	$	2.1	$	(3.6)	$	1.6	$	(0.6)	$	(2.6)	$	(1.5)	$	(7.2)
Stock-based compensation expense		0.4		0.8		0.3		0.3		0.3		1.2		0.8
Amortization of intangibles		0.4		0.4		0.4		0.4		0.4		0.8		0.8
Restructuring expenses		-		-		-		-		0.4		-		1.7
Net foreign exchange (gain) loss		(2.2)		2.0		(1.8)		1.8		0.1		(0.2)		1.1
Loss (gain) on fair value of derivatives		0.1		(0.2)		(0.1)		(0.5)		(0.3)		(0.1)		(0.3)
Related tax effects		0.5		(0.6)		0.4		(0.4)		(0.2)		(0.1)		(0.9)
Adjusted Net Income (Loss)	$	1.3	$	(1.2)	$	0.8	$	1.0	$	(1.9)	$	0.1	$	(4.0)

(millions of dollars)		Quarter ended
		2024			2023			2023			2023			2023		% Change
		Q1			Q4			Q3			Q2			Q1		Quarter over Quarter		Year over Year
Consolidated
Revenue	$	35.4		$	42.2		$	46.0		$	37.6		$	38.2		-16	%	-7	%
Net Revenue ^(A)	$	9.7		$	11.2		$	12.1		$	9.9		$	9.8		-13	%	-1	%
Adjusted EBITDA ^(A)	$	(1.1	)	$	0.6		$	1.7		$	(1.7	)	$	(2.9	)	-280	%	64	%
Net (loss) income	$	(3.6	)	$	1.6		$	(0.6	)	$	(2.6	)	$	(4.6	)	-322	%	22	%
Net (loss) income per diluted share	$	(0.05	)	$	0.02		$	(0.01	)	$	(0.04	)	$	(0.06	)	-350	%	17	%
Adjusted Net (loss) income ^(A)	$	(1.2	)	$	0.8		$	1.0		$	(1.9	)	$	(2.1	)	-241	%	43	%
Adjusted Net (loss) income ^(A) per diluted share	$	(0.02	)	$	0.01		$	0.01		$	(0.03	)	$	(0.03	)	-300	%	33	%

U.S. Appraisal segment
Revenue	$	26.8		$	31.2		$	33.5		$	28.0		$	28.3		-14	%	-5	%
Net Revenue ^(A)	$	7.5		$	8.6		$	9.2		$	7.7		$	7.6		-13	%	-2	%
Net Revenue ^(A) margin		27.9	%		27.5	%		27.5	%		27.6	%		27.0	%
Adjusted EBITDA ^(A)	$	2.7		$	3.9		$	4.8		$	3.1		$	2.3		-32	%	16	%
Adjusted EBITDA ^(A) margin		35.8	%		46.0	%		52.0	%		40.6	%		30.4	%

U.S. Title segment
Revenue	$	2.0		$	2.3		$	2.6		$	2.2		$	2.4		-13	%	-14	%
Net Revenue ^(A)	$	1.0			1.0		$	1.2			0.8		$	0.8		-8	%	18	%
Net Revenue ^(A) margin		47.3	%		45.0	%		45.2	%		36.8	%		34.7	%
Adjusted EBITDA ^(A)	$	(1.6	)	$	(1.6	)	$	(1.6	)	$	(2.3	)	$	(2.9	)	-2	%	44	%
Adjusted EBITDA ^(A) margin		-167.9	%		-150.4	%		-133.6	%		-279.3	%		-353.4	%

Canadian segment
Revenue	$	6.6		$	8.7		$	9.9		$	7.4		$	7.5		-24	%	-12	%
Net Revenue ^(A)	$	1.2		$	1.6		$	1.7		$	1.4		$	1.4		-20	%	-8	%
Net Revenue ^(A) margin		18.8	%		17.9	%		17.6	%		18.7	%		17.9	%
Adjusted EBITDA ^(A)	$	0.7		$	1.2		$	1.3		$	1.0		$	0.9		-38	%	-19	%
Adjusted EBITDA ^(A) margin		56.8	%		72.9	%		73.7	%		69.8	%		64.2	%

Corporate segment
Adjusted EBITDA ^(A)	$	(2.9	)	$	(2.9	)	$	(2.8	)	$	(3.5	)	$	(3.2	)	2	%	9	%

								Quarter ended
		Q1 2024			Q4 2023			Q3 2023			Q2 2023			Q1 2023

Net (loss) income	$	(3.6	)	$	1.6		$	(0.6	)	$	(2.6	)	$	(4.6	)
Operating expenses		11.6			10.9			10.7			11.9			13.2
Amortization		0.8			0.9			1.0			1.0			1.0
Restructuring expenses		-			-			-			0.4			1.3
Interest expense		0.1			0.1			0.1			0.1			0.1
Interest income		(0.4	)		(0.3	)		(0.2	)		(0.2	)		(0.1	)
Net foreign exchange loss (gain)		2.0			(1.8	)		1.8			0.1			1.0
Gain on fair value of derivatives		(0.2	)		(0.1	)		(0.5	)		(0.3	)		-
Income tax recovery		(0.6	)		(0.1	)		(0.2	)		(0.5	)		(2.1	)
Net Revenue	$	9.7		$	11.2		$	12.1		$	9.9		$	9.8

Account-to-Account Payments Set to Revolutionize Shopping, with E-commerce Payments Reaching $525 Billion Globally: Worldpay from FIS 2023 Global Payments Report

Latest News

Latest Press Releases

Related News

TOP STOCKS