While half a world away from Ukraine, these domino effects have long since reached Asia Pacific's (Apac) shores. But what does all this mean for finance, particularly the payments space, in 2023?
After the unprecedented nature of 2020 and 2021, many were looking forward to a more stable, ‘normal’ year in 2022. It has turned out to be anything but.
The war in Ukraine has triggered consequences reaching every corner of the globe. The sanctions placed on Russia instantly affected the global energy supply, which led to an affordability crisis, rising inflation and ultimately higher interest rates. The cheap money that has been available to businesses and consumers for the last decade is no more.
