Posted on 27 Aug 2020
With the prevalence of smartphones in the United States, it would be easy to assume that there is not much opportunity to accelerate the adoption rates of digital payments. However, due to legacy systems and rewards cards, the U.S. is actually behind in adopting mobile payments when compared to other countries e.g., China and India. For instance, in 2019, U.S. major mobile payments apps had adoption rates of less than 10% while China had 80%.
Current events have provided huge incentives to move forward and catch up with the rest of the world, and now is the time to facilitate digital payments adoption.
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