E-payments are growing thanks to smartphone penetration

 

The last few years have witnessed an extreme growth in e-payments and the pandemic has just accelerated this trend.  Indeed, customers are looking for secure payment solutions and cash is believed to be able to transfer germs easily. With this shift in consumer behaviour, the possibilities for financial firms are endless. Since clients are becoming more tech-savvy, payment service providers have the opportunity to tap into new markets. One example of this is that of mobile settlements. Indeed, Statista reveals that 41.5 percent of the world population is equipped with smartphones, which firms can take advantage of.

Consumers are now more tech-savvy © Royalty-free image