In the time of the pandemic like COVID 19, consumers shifted their spending habits into online shopping and contactless payment. Every business has paved the way to hold online stores and accepted online payments. In 2021, a research from Mastercard shows that digital payment is occupying the market, and consumers will continue to experience digital practices. Lets know about the mastercard forecast.
A shifted situation in payments: Purchasing online
93% of those surveyed in that research say that they will consider using digital payment methods such as contactless, QR code and biometric payments.
Mastercard also reported there are 1 billion additional contactless transactions in the first quarter of 2021 compared with the same period of 2020.
In the future, payments technologies including biometrics, contactless, QR codes will be the trend in every market. These kinds of payments bring convenience to customers and help decrease the use of cash.
Beside cashless payments, applying for loans at financial institutions is also the good choice of customers. Learn more about installment loans (vay tiền trả góp tháng ngân hàng) if you’re interested.
Why does this behavior gradually become important?
As the economies of Eastern countries are gradually growing, consumers’ choices in these countries are also changing, which can be seen in the way they make their payments. A large number of the population is now able to access the internet, which leads to a flourishing digital economy.
It is predictable that in the following years, there will be more and more e-payment transactions, which are not only available national-wide but also worldwide in scale.