“IT ’ S IMPORTANT WE DON ’ T EXCLUDE PEOPLE AS A CONSEQUENCE OF TECH INNOVATION ”

FRAZER HARPER VP OF PAYMENTS PRODUCTS , DOJO most cash-loyal nations in the world , with consumers preferring to pay using physical currency in over half of transactions .

Contactless payments are expected to become more popular , driven by the highest rates of growth in the UK , France and Italy . Smartphone payments and smartwatch payments will also rise in popularity ; in both cases China is expected to see the highest rate of growth . Of course , this research does not take into account the boom effect experienced during the pandemic , when contactless payment methods were considered favourable due to hygiene and public safety considerations – so it ’ s possible that Deutsche Bank ’ s initial findings will actually be accelerated because of the pandemic . fintechmagazine . com 81