Forecast: Number of Payment Transactions by Non-banks in Belgium

The number of payment transactions by non-banks in Belgium has shown considerable fluctuation over the years. In 2023, the volume stood at 4.05 billion units, marking a 2.12% increase compared to 2022. The Compound Annual Growth Rate (CAGR) over the last five years has been 2.31%. Significant year-on-year variations were observed, notably a steep decline of 15% in 2020 due to economic disruptions likely caused by the global pandemic, followed by a strong rebound of 29.42% in 2021. Looking forward, the forecast indicates a steady growth trend with an estimated CAGR of 1.6% over the next five years, reaching approximately 4.5 billion units by 2028.

Future trends to watch for:

• Technological advancements in payment systems.
• Increasing adoption of digital wallets and fintech solutions.
• Regulatory changes impacting non-bank payment providers.
• Global economic factors influencing consumer spending and transaction volumes.