Global payments revenues declined by $100bn in 2020 — a decrease of 5% compared to 2019, according to the 2021 McKinsey Global Payments Report. The fall was driven by the Covid-19 pandemic and was the first global payments revenue drop in 11 years.
The decline was driven by decreases across the regions. Asia-Pacific, by far the biggest contributor to the global payments revenue pool, saw a 6% decline in 2020, while Latin America saw the steepest decline of 8%. Europe, the Middle East and Africa (EMEA) and North America experienced revenue declines of 3% and 5%, respectively.
