Mobile wallet payments more common than in-store cash transactions in 2020

mobile wallet payments - person using google pay

Last year, for the first time, people used digital payment methods more often than cash. Mobile wallet payments became more popular than cash transactions worldwide at in-store points of sale (POS) in 2020, said the Global Payments Report 2021 published by FIS’ Worldpay. That trend represents the first time smartphone-based transactions were more common than cash. The data presented in the Global Payments Report 2021 showed that there was a considerable 10 percent drop in the use of cash to pay for purchases in-store. This took into account the fact…

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