Contactless payment demand continues to grow
The demand for contactless payment options has soared during the pandemic, with 92 million people using some type of mobile wallet function in 2020, and that figure is projected to grow to 101 million people this year, a report from eMarketer shows. Gen Z and millennials led the trend, and the average annual mobile wallet spending by all shoppers is expected to exceed $3,000 by 2023.