Developing countries strongest growth in payment card acceptance

Countries in Asia-Pacific, and Middle East and Africa (MEA) regions are showing the greatest growth in the number of card-accepting merchant outlets, according to new research from RBR.

The amount of card-accepting merchant outlets worldwide rose by more than 7 million in 2015, to 54 million, according to the report, Global Payment Cards Data and Forecasts to 2021.

In the Asia-Pacific region, the number of merchant outlets that accept customers’ payment cards has increased by 29% in 2015. Unsurprisingly, China came top in the region with it accounting for 4.7 million new card-accepting outlets during 2015.

The report said that Malaysia’s interchange fees reform has encouraged more merchants to start accepting cards.

Read more on PaymentEye.

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