The Demand for Digital Payments During the Pandemic

61% of Americans now say they feel confident enough to leave their physical wallets at home and simply carry their smart phone with them. The vast majority of respondents, including 85 % of americans, also rated mobile wallets as a convenient option for making purchases. There is a large discrepancy in confidence levels between younger and older consumers. This may be because the younger consumers are digitally native, while older generations have been forced to adopt digital payments out of necessity. In recent years, the pandemic brought a global shift in behavior, where even consumers who had previously been slow to adopt contact less payments were forced to do so by external events.