The technology behind a cashless revolution.
It won’t be long before the world makes the full transition from pocket cash to digital currency. In less than 5 years, experts predict the global mobile payment market will be valued at $3.372 trillion. By comparison, it only reached $123.5 billion in the year 2017.
There’s a simplicity and swiftness to e-wallets that is driving consumers towards them. People enjoy the convenience of a phone being all they really need when leaving the house. Even e-commerce becomes more fluid with the integration of mobile wallets.
There’s also the matter of security. Cracking a phone is a lot more difficult than swipping a credit card.
New services and technology that cater to this demand are popping up around the globe. There are downloadable apps, online platforms and digital management services – all quickly gaining popularity. The infographic above summarizes some of the most successful developments in this space.