Accelerating the Shift to Digital Payments
The pandemic accelerated our embrace of digital payments, and that, in turn, appears to have shifted how we think about money, how we make payments, and even what we view as currency. This has been further fueled by consumers' and small businesses' desire for more choice in the way they pay and get paid. Eighty-five percent of people say they used at least one emerging digital payment method in the past year, according to a global consumer survey of 35,040 respondents in 40 countries conducted by the Harris Poll and Mastercard. An overwhelming 93% say they are likely to use one of these methods in the next year. More than just a snapshot of the shifting landscape of payments, this discussion explores the motivations behind the momentum toward digital payments and how considerations such as security, convenience, flexibility and control are directing the digital money revolution.