Should You Start Your War on Cash Basket with PayPal?
"The war on cash" is a phrase you often hear referring to the world's gradual shift toward electronic payments. Merchants and consumers have been taking advantage of new payment technology for years, but the trend has accelerated recently.
According to a recent survey by Mastercard, "The ways we pay for things has been changing more in the past 15 years than in the previous 150, and nearly every innovation we have seen has taken share away from cash." The pandemic has accelerated this trend, and within the next 10 years, some developed countries are expected to be entirely cashless. Currently, Singapore leads the way with 61% of payments being made without cash, followed by the Netherlands (60%), Sweden (59%), and France (59%). The United States is at 45%, and that percentage will continually increase. The trend is undeniable and could accelerate even faster as new disruptive technologies emerge.
Source Fool.com
