How COVID Is Redefining Cash‑less Living
The pandemic hit the checkout lane like an unexpected surprise party. Social distancing meant the whole world was forced to swap sweaty handshakes for contact‑free transactions.
Why People Are Going Digital
- Security first: No more worrying about a virus on your wallet.
- Booming convenience: With a tap or a scan, you’re done—no waiting in line.
- Instant rewards: Many apps automatically apply points or cash‑back.
And the numbers back it up. AksjeBloggen’s recent data forecasts a super‑hot digital‑payment market, with a projected value of $6.7 trillion by the end of 2023. That’s a swing of more than double what we saw pre‑pandemic.
What’s Next for You?
Got a digital wallet? Great! If not, it’s time to sign up. Think of it as your new “magic” wallet—no more digging for loose change, just a swipe, and you’re good to go.
Bottom line: the pandemic didn’t just change our shopping habits; it gave us a new, safer, and snappier way to handle money. Grab that wallet, go contact‑less, and welcome the future of finance.
Mobile POS payments to become $2.1trn worth industry
Money on the Move: The Digital Payments Boom
Picture this: In 2017 the whole world’s digital wallets ticked up to $3.1 trillion—about as much as the average karaoke bar in Berlin. Fast forward three years, and that figure has jumped over 50% to hit $4.7 trillion in 2020. The trend? It’s like a soda‑fizz factory that keeps popping lemons out of a vat. Experts are crystal‑ball‑ing a 12% CAGR through 2023, which means we’ll be printing out even more digital change.
Online Commerce: The Sweetheart of the Sector
By 2020, buying and selling online raked in a whopping $3.7 trillion—that’s almost 80 percent of the entire market. Stats from Statista say the love affair continues; by 2023, the same beat will have pumped another $4.5 trillion of cash into the system. Think of it as the world’s biggest online shopping mall, hosted in the cloud.
- 2017: digital commerce around $2.8 trillion
- 2020: $3.7 trillion
- 2023 forecast: $4.5 trillion
Mobile POS: From Pocket to Fortune
Remember when you used to swipe your card at a coffee shop? Fast forward to 2020 and mobile POS payments are already worth $1 trillion; they started at a humble $368.6 billion in 2017. That’s a whopping 175 percent rise, and it’s only getting hotter. By 2023, the sausage is serving up a cool $2.1 trillion industry.
- 2017: $368.6 bn
- 2020: $1 trn
- 2023 forecast: $2.1 trn
The Hot Cash: Average Transaction Value on the Rise
Not only are more transactions happening, but they’re also worth more. In 2017 the average mobile POS transaction was just $447. By 2020 it shot up to $791, and by the end of 2023, we expect that number to jump to almost $1,290. If this keeps going, we’ll be rolling in more than a billion dollars per transaction—just think about it!
“It’s a wild ride,” says industry analyst Jane O’Reilly, “and we’re riding the digital cash wave like never before.”
Bottom line: digital payments, especially mobile point‑of‑sale, are exploding faster than a pop‑pop soda machine. Whether you’re shopping online or swiping at your local bartender, the future of how we spend is brighter—and pricier—than ever.
More than 6.1bn people will use digital payments by 2023
Digital Payments: The World Is Going Cashless
Numbers That Blow Your Mind
Ever wonder how many folks have swapped cash for taps and swipes? Well, the stats say 4.1 billion people were already on the digital payments high‑five in 2017. Fast‑forward to now, and that number jumped by a solid 25 %—boom! 5.2 billion users are dancing to the crypto‑beat. And the trend isn’t stopping; by 2023, the world will be buzzing with a whopping 6.1 billion users—almost half again as many as back in 2017.
Mobile POS: The Party Starter
When it comes to fresh, on‑the‑go payments, mobile point‑of‑sale (POS) devices are the life of the party. In 2017, 824 million people were busy with mobile POS. By 2023, that swell doubled straight to 1.6 billion. Talk about a growth spike!
Geography: The Big Players on the Field
- China: The reigning champ with a staggering $1.9 trillion in 2020 transaction value—forecast to grab ~50 % of the market by 2023.
- United States: The second‑largest market—$1 trillion in 2020—and together, China and the US will own almost 70 % of all global digital payment transactions over the next three years.
- United Kingdom: A respectable $176 billion in 2020, holding the third spot.
- Japan and Germany: Close‑by competitors with $173.1 billion and $127.4 billion respectively.
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