The onset of COVID-19 has accelerated change in the payments sector and due to guidelines and restrictions to deter the spread of COVID-19, has led to a surge in digital and contactless payments. In this IBS Intelligence and CR2 report, The Future of Payments, they have looked at the benefits of digital wallets and what are the technology trends that are driving the success of digital wallets.
With the number of global transactions growing by 6% from 2019 and 2020, the Future of Payments report also discusses the adoption, benefits and outlook of virtual cards and, as their use is predicted to rise by 90% over the next few years, how banks are merging virtual cards with their digital wallets.
