Finance: 2020 in review

 

2020 was a life-changing year. This was the case for most aspects of our life, even the finance sector. The coronavirus pandemic has accelerated trends that were emerging. For instance, cashless payment services became more popular. Indeed, the use of cash considerably decreased among consumers. This is because there were speculations that handling fiduciary money could spread infection. Thus, people preferred to use digital settlement services which were considered to be safer. These became so popular that analysts predicted that cash transactions will fall to just 9% by 2028.


 Cashless payments were more popular © Royalty-free image


Comments