- “According to McKinsey, the industry ‘vaulted five years forward in consumer and business digital adoption,’ in just eight weeks. Accenture notes that the adoption of mobile banking increased among first-time users in 2020.
- The unprecedented need for contactless payments has led to the rise in e-wallets or digital wallets. PYMNTS research reported a 59% increase in Apple Pay across the U.S. Leading the change in India is the Unified Payments Interface (UPI) systems providing seamless mobile wallets and digital payment apps.”