As the entire world is evolving due to the CoronaVirus outbreak, it seems like now is the time for another strategic shift in the world economy. And this shift will be introduced by people who are afraid of catching the virus from contaminated cash notes using Mobile Payment Apps.
While a number of countries like Sweden, China, and the UK are already embracing cashless payments completely, others are in the league. As per reports, in the US as well, around 46% of Americans are using smartphones to pay their bills.
Therefore, the path to cashless is extremely clear now!
With an increase in usage of smartphones, mobile apps with UPI, and e-wallets, the mobile payment market is flourishing, luring several entrepreneurs and investors to invest in it. It is also one of the few industries that survived the pandemic effect on the economy and emerged even stronger and profitable.
Are you wondering what’s making us say that? Let’s find out.
