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/PRNewswire/ As consumers progressively purchase a wider spectrum of goods and services via digital currencies, U.S. merchants are reflecting a greater.
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Payments revenues took a hit in 2020 as spending overall dropped.
But where consumers were spending, adoption of non-cash options like contactless cards rose.
Experts see a big opportunity for card companies as spending and travel recover.
The coronavirus pandemic s effect on spending was wide-reaching, impacting nearly every industry and every area of commerce.
Revenues for airlines, restaurants, and retailers all fell dramatically in 2020. Inevitably, payments companies like Amex, Mastercard, and Visa, which rely on those card-heavy industries for revenue, took a hit, too.