Debit cards continue to gain market share from credit cards and the use of electronic and m-payments is showing exponential growth. That’s acording to the World Payments Report 2012 released by Capgemini, RBS and Efma.

There were an estimated 28.3 billion electronic and mobile payment transactions globally in 2011, and in 2010 more than one in three non-cash payments globally was made using a debit card, up 15.2 per cent, according to the report. But with only 2.1 per cent of all mobile users making m-payments, the potential for additional growth is still huge, with mobile payments set to reach 17 billion by 2013 and e-payments 31.4 billion by 2013.

“Debit card transactions continue to take market share from other types of payment methods because they easily allow people to bypass the use of cash,” says Kevin Brown, global head, transaction services product, international banking, RBS. “As more and more consumers move to mobile and other electronic payments, we’ll continue to see the exponential growth of innovative payment solutions.”

The report is available for download at: http://www.capgemini.com/wpr12

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