From Cash to Digital: The Shift in Payment Methods by 2028

Webersnits20 Sep, 2024News

The global Digital Payment Market size is projected to grow from $111.2 billion in 2023 to $193.7 billion by 2028, at a CAGR of 11.8% during the forecast period 2023 to 2028, according to a new report by MarketsandMarkets?.. The global digital payment market is rising due to several key factors. Initiatives worldwide to promote digital payments, the widespread adoption of smartphones facilitating mobile commerce (m-commerce) growth, and the surge in eCommerce sales and increasing internet penetration are driving this trend. The use of mobile devices is expected to increase customer interactions with their banks, providing banks and financial institutions with valuable insights into customer needs.