In accordance with a report published by Mordor Intelligence, the global digital payments market is projected to grow at a compound total annual development rate (CAGR) of fourteen. 1% between 2018 and 2023.
Consumer buying behavior is changing as digital obligations provide consumers faster, more secure and more convenient transaction solutions, including, g bank credit cards, net banking, e-wallets and mobile in-store application. The particular increasing adoption of digital payment applications in several industries, like retail, transportation, amusement and media, banking and financial sector, help drive the market growth. Furthermore, the growing demand for mobile phones and e-commerce encourages more technologically-driven payment methods and digital currencies, such as Bitcoins. Glance Technologies Inc. (OTC: GLNNF), PayPal Coopération, Inc. (NASDAQ: PYPL), Tencent Holding Ltd. (OTC: TCEHY), Overstock. com, Inc. (NASDAQ: OSTK), Taiwan Semiconductor Production Company Limited (NYSE: TSM)
Data compiled by Openness Market Research suggests that the global cryptocurrency market is expected to develop at a CAGR of 31. 3% to achieve USD 6. 7 Billion dollars by 2025. The common acceptance of cryptocurrency in the transaction processing system is a notable factor that hard disks the growth of the market. The rise of cryptocurrency is transforming the payment systems, with the aid of blockchain technology. The good thing about using cryptocurrency including faster arrangement, lower settlement expenses and disintermediating currency exchange systems.
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