Mobile payments to overtake credit cards by 2019, says UN report
This will be especially true in developed countries, while cash is still king for those in developing countries.
In the near future, we’ll be paying for goods and services with our phones rather than our credit cards, says a report from the United Nations Conference on Trade and Development (UNCTAD).
In 2014, 51 percent of payments in developed countries were made with credit cards. However, that number is expected to dip to 46 percent in 2019 as advances in technology will make it easier for people to pay for things with their phones. This won’t apply to developing nations, where cash is still the preferred choice.
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