The main drivers of ongoing development in this particular space include the following: The growth of the digital economy has resulted in an increase in card-based payments and the introduction of many different digital payment solutions; Companies looking to take payments online and keep track of and process transactions that integrate with physical or brick-and-mortar store systems; Service providers looking for ways to innovate with new payment solutions in order to retain merchant clients; PitchBook data shows that paper money experienced an accelerated decline in usage (as of the third quarter of last year). Payments company Square revealed that cash-based transactions fell to 33% of all purchases made during Q3 2020 from 41% in Q3 2019—which represents a decline that might have taken up to 3 years if there had not been a COVID outbreak.

https://www.crowdfundinsider.com/2021/01/171766-contactless-payments-adoption-to-increase-6-8-globally-compared-to-pre-covid-projections-report/?MessageRunDetailID=4276401863&PostID=25053171