Cash, check, card, and electronic bank payments dominate consumer and business payments. But pandemic-driven digitization is changing share of wallet as analog methods continue to decline. In their place, card and electronic transfers will surge, while alternatives like installment loans and cryptocurrencies will threaten giants’ market share.
3 KEY QUESTIONS THIS REPORT WILL ANSWER
WHAT’S IN THIS REPORT? We define and size major payment method and funding mechanism types, offer growth insights and forecasts, and evaluate key trends affecting consumer and business usage in the year to come.
KEY STAT: The share of consumers citing cash as their preferred payment method fell by nearly 10 percentage points from 2016 to 2020, while card payments became more popular.
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