Guess Which Digital Payment Method Is Most Popular (Hint: It Isn't PayPal)
The dynasty of credit card companies is coming to an end. So says CEO Michael Corbat of Citigroup Inc. (NYSE: C), the world's largest provider of credit cards. In an exclusive interview with The Australian Financial Review, Corbat said, "We know, at some point, cards are going to go away, and it's just going to be digital wallet, digital payments."
That type of pronouncement by an industry leader in credit cards confirms a trend that many had already recognized -- digital payments are the wave of the future, and the future is arriving more quickly than you might think. In a recent survey, 64% of consumers reported having made a mobile payment in the past 12 months, and the total transaction value of digital payments is forecast to top $738 billion this year.
More retailers accept Apple Pay than any other digital payment method. Image source: Apple.
Source: Fool.com
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