Five countries to watch for e-payments

Wednesday, June 7, 2017

Cash is on its way out, it seems. Governments across the globe are introducing digital and mobile payment systems in a push to become cashless economies.

A study shows that 34% of Europeans and 38% of Americans would be willing to go cash-free if they could, Reuters reported. In Asia, China is an early adopter of digital payments, with 95% of Chinese using smartphones and mobile wallets to pay for goods and services.

Other countries are just starting on their journey; Singapore, for example, has plans to set up a national e-payments platform as part of its Smart Nation initiative. There has also been “slow take-up” of Thailand’s new e-payment system, the Straits Times reported.

Source: GovInsider Asia (link opens in a new window)

digital payments, fintech, mobile finance