On 11th March 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a pandemic. At the time of writing, hundreds of thousands of lives and businesses have been affected. With multiple countries issuing bans on travel across borders and ordering shutdowns of cities and towns, many businesses are seeing the virus take its toll.
Sweden lays claims to be the most cashless country on earth, with coins and notes used in less than a fifth of transactions as everyone and everything from public transport to homeless people switch to card or mobile payments.
Researchers expect strong growth for contactless payments in the United States, despite the low adoption figures with American consumers.
Chinese consumers made mobile payments worth $5.5 trillion in 2016, compared to the US’s $112 billion market, a new study has found.
Only a quarter of Apple Pay transactions come from its native US, according to Apple’s CFO Luca Maestri.
The volume of transactions using Apple Pay has increased 450% with the service now available via 20 million locations globally.