Today In Data: Digital Payments Take Two Steps Forward, One Step Back

That digital payments are moving forward fast is inarguable at this point. You can see it in the explosive growth of P2P payments in the U.S. and around the world, and in the rapid onset acceptance and use of contactless payments. But for every advance forward, there are still lead weights that seem to be holding the increasingly digital world in its analog roots – the most notable offender being B2B. Sure,  payments are getting more digital, but the paper check has remained a stunningly persistent player.

$75 billion: Value of transactions processed by Zelle in 2017.

1.1 billion: The number of listings through which AI-based image recognition can help consumers search.

200 thousand: The number of orders per day processed through JD.com’s automated warehouse.

32 percent: Share of firms that report using checks more than any other method when receiving payments.

2: The number of years before overall transactions made via in-store contactless payments will account for 15 percent of POS transaction volume, worth $2 trillion.