Friday, 23 July 2021, 10:22 am
Summary: The cashless payment system is
growing exponentially with evolving payment methods, rising
e-commerce use, enhanced broadband connectivity, and
emergence of new technologies. Can increasing incidences of
cyberattacks and spams hamper the growth of online payment
market or will it continue to grow at a rapid
rate?
The global digital payment industry is expected
to hit the USD6.6 trillion mark in 2021, registering around
a 40% jump in two years. The cashless payment methods are
rapidly evolving with ground-breaking innovations such as
mobile wallets, peer-to-peer (P2P) mobile payments,
real-time payments, and cryptocurrencies. In the growing
digital age, many payment technology companies are
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