According to the press release, COVID-19 has significantly affected Belgium’s economy, but the HoReCa sector slowly opening should give it and the payments industry a boost.
Moreover, GlobalData forecasts a compound annual growth rate (CAGR) of 19.4% in transaction value up to 2023 and a growth of 26.3% in 2020, as consumers look for contactless payment methods. Strong growth was already anticipated before the pandemic (22.1% in 2020), but this has further accelerated that.
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