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…
Read MoreMobile wallet payments more common than in-store cash transactions in 2020
