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
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