Today In Data

Accelerating The Digitization Of Money

Accelerating The Digitization Of Money

While the demise of cash has long been forecasted, it never quite seems to happen. Yet it’s undeniable that eight months of COVID-19 have sped up the process, as payments of all kinds – consumerB2B, government, payrollhealthcare and more – are increasingly ditching the paper in favor of digital. It’s a situation that has brought FinTechs rushing into the space, and searching for partners to help them speed up the digitization of currency.

Data:

$30T: Value of B2B payments made via check each year.

360%: Year-over-year increase of enrollment in Visa’s Fast Track program in 2020.

96%: Portion of American consumers who receive payroll digitally.

72%: Share of QSRs that have implemented mobile ordering capabilities in response to COVID-19.

19: Number of days it took for i2c and SmartHealth to launch their first-of-its-kind pay card.

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