Lockdowns, online shopping, and fear of germs during the pandemic have hastened the shift toward all types of digital payments. As a result, Gen Z has fully embraced electronic wallet services, contactless payments, peer-to-peer payment apps, and digital uses of credit, including buy now, pay later.

In a survey, 60% of consumers said they will not give their business to merchants who fail to offer digital payment options.

Following rollouts in Ireland and France, Square launched an early access program in Spain, where it can capitalize on rising digital payments use.

In 2021, digital payment card transactions—credit card, debit card, and prepaid card—will total $67.74 billion in Canada.

Mobile proximity and peer-to-peer (P2P) payments have hit the mainstream, thanks to a pandemic-driven upswing in digital payments that is set to last. This trend is leading providers to diversify their offerings and compete for share of the market.

PayPal signed an agreement to buy the Japanese BNPL provider, which can help it gain a stronger foothold in Japan’s budding installment lending market and overall digital payments space.

PayPal wants to expand its in-store digital payment solution and card business as cash use falls across Europe.

Foremost Business Systems offers point-of-sale hardware and software solutions for restaurants, which can help NCR build out its hospitality unit and boost overall revenues.

The prepaid digital payment system caters to essential transactions like medical payments and food vouchers and can help increase financial inclusion for the country’s unbanked population.

Google eyes Japanese payments acquisition: The tech giant is in negotiations to buy cashless payments startup pring, which could help strengthen its business in Japan as the country begins to embrace digital payments.

Paytm expanded its BNPL solution with Postpaid Mini and PhonePe launched a digital payment solution for cash on delivery orders—helping expand the country’s digital payment solutions.

The mandate will let consumers use their mobile wallets at any UPI-accepting merchant and send payments to consumers using different wallet brands—making way for increased digital payment adoption.

With digital payments on the rise, faster transaction capabilities can help businesses stand out and cement customer loyalty. Adobe’s tie-up with Mastercard can streamline businesses’ B2C operations, a segment that has been slow to innovate and digitize.

In the last year, cryptocurrency exchanges like CoinJar have emerged as formidable players in the digital payments space. Working with these types of providers lets Mastercard take advantage of their already-existing crypto technology and infrastructure—and avoid building it in-house, which can be costly. And it also gets these fintechs on Mastercard’s side before they become competitors.