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14 Fascinating Facts about Payments

Fourteen facts about the transition to alternative payment methods

The payments industry has been in a transitional period  for the last few years now.

Payment providers are trying to phase cash out, improve card security, and get more people paying with contactless technologies. And the more radical thinkers are looking past that, trying to see a world where the physical boundaries of money transfer and social taboos around talking about money are eliminated.

Put simply, the payments landscape is a fascinating one.

For instance, did you know that it’s estimated that only 5 per cent of the worlds youth have access to a savings account?

Or that in just 100 days mobile payment service PayM reached £6.5 million in transaction value?

And according to Juniper Research, by 2018 50 per cent of mobile wallets in the developed world will feature a form of contactless payment technology. 

So what better way to see how far the industry has come in the last few years by taking a look at some fascinating facts around payments.

Click on the infographic below to see it in a larger format.

Fascinating Payments Facts

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