Digitalisation continues to make wallets lighter: first came the debit card, further enhanced by contactless payment, and then came the likes of Apple Pay and other means to complete transactions by phone. COVID-19 has further put some off the idea of paper money, and whilst previous predictions of cashless societies have not come to pass, it is clear where preferences lie in some developed markets, especially among younger generations.
Subscribe to Automotive World to continue reading
Sign up now and gain unlimited access to our news, analysis, data, and research
Already a member?