• Prior to the COVID-19 • Also prior to the virus, China was the second-largest (20 percent global share) and second-fastest-growing payments market. It was the first geography to be outbreak the USA was hit by the outbreak and currently is fourth in terms of the number of cases. the largest payments • Europe has a 14 percent market share (the third-largest geography) but 52 market, with a 31% percentof COVID-19 cases collectively—roughly twice that of the USA. global share.2It is the • In these key payments markets the COVID-19 impact is greatest, interests rates are sharply down, consumer confidence and spending are low, and economic country that has had output is dropping. by far the highest • The distribution of COVID-19 cases worldwide suggests while Asia was hit first, it number of COVID-19 has “flattened the curve” more than North America and Europe. cases. • This suggests a bleak short- to medium-term outlook for North American and European payments revenues. 10 Ways COVID-19 is impacting payments 8