How COVID-19 is Helping Countries Transform into Cashless Societies
How COVID-19 is Helping Countries Transform into Cashless Societies
Cashless societies will be the future. With COVID-19 increasing the use of digital payment services among consumers, service providers must leverage this momentum to retain users and transition them into the new “cashless” normal.
While COVID-19 helped increase digital payment adoption, 2021 will be the critical year to retain these users by demonstrating the convenience of digital payment solutions.
The world paused in 2020. What started as a localized outbreak in Wuhan grew into a global health crisis. In a blink of the eye, COVID-19 became a pandemic. In an attempt to stop the pandemic from claiming more lives, governments in different countries issued restrictions on people’s movement. By April 2020, over half of the world’s population was under mandatory lockdowns imposed by more than 90 governments worldwide. As of November 2020, there were more than 60 million COVID-19 cases across 218 countries and territories.