[jonathanpierre]

I think it might be true on the grounds that credit cards are only king in the US and Latin America, whereas they represent less than 10% of cashless payments in the large markets, namely Asia.

Developed countries have more accessible and cheaper systems, like M-Pesa. In China, you generally just scan a QR code to make a payment. Neither of these systems piggyback on the expensive and slow credit card system.

So, I think this statistic might be as true as it is misleading. Impressive marketshare, just not as big a market.