Both globally and in the US, the payments ecosystem is evolving. 
Two related trends: the slow death of cash and the fast rise of digital payments, are transforming how consumers, businesses, governments, and even criminals move money.
Annual global non-cash transactions are expected to pass the 1 trillion milestone by 2024. This major transformation is being propelled by several factors, including increased usage of digital wallets, more small vendors adapting to accept credit cards, and the explosive growth of mobile commerce.
See the rest of the story at Business Insider
See Also:
- Financial Services Industry Overview in 2020: Trends, Statistics & Analysis
- Chinese regulators estimate that their P2P lending crackdown resulted in $115 billion in losses for investors
- Monzo and Starling took the top spots in a study of customers' likelihood to recommend their bank
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