Payments revenues 53.2% 54.5% UK box office UK daily retail 4 5 have slumpedas sales footfall demand has 99.9% 78% collapsedacross UK restaurant US tourism many key sectors bookings6 spending7 • In major geographies, overall consumer payments revenue is largely driven by spending-dependent streams, especially cards. These streams account for between 66 percent and 86 percent share, with the rest driven by liquidity and account-based revenue. • Demand has collapsed across key sectors of domestic spending (including retail, entertainment and travel) due to social isolation and lower consumer confidence. • Cards and FX providers, especially currency fintechs, are particularly expected to struggle as consumers travel significantly less. • Some spending is expected to move to e-commerce where possible, but less- developed e-commerce sectors will be hit significantly—some by more than 50 percent, initial data suggests. • Even e-commerce is expected to slow after its initial spike, as supply chains dry up and merchants struggle to meet increased consumer demand. 10 10 Ways COVID-19 is impacting payments