Cashless payments: developments in the e-commerce sector

With the rise of cashless payments, it may no longer be necessary to own a purse in the future. Consumers are opting to use services such as mobile wallets and others. This trend is greatly helping to enhance the e-commerce sector. Let us take the example of one of the superpower countries, China. Ten years ago, micro-payments were virtually non-existent in the country. In 2018, financial transactions processed digitally have reached more than $41 trillion. This was advanced by the Brookings report. As such, fintech firms in the UK are focusing on innovative payment solutions.

Cashless payments attract more customers