Despite increased adoption of digital payments, cash remains in the mainstream

Despite increased adoption of digital payments, cash remains in the mainstream, especially for low-value transactions. 

This year’s World Payments Report 2017 (WPR 2017) states that mobility, connected homes, entertainment, and media are expected to boost non-cash transactions in the future, as will alternate channels, including contactless, wearables, and augmented reality.  

One can observe that, Increased digitization of corporate B2B payments is affecting regional trends. In Mature APAC markets, small and medium-sized businesses are using digital invoicing, virtual cards, and cloud-based finance and accounting.

 In Emerging Asia, charge cards are popular among corporates to simplify and secure supply-chain payments.