WPO Image

The Keys Factors That Contributed To The Rise Of Digital Money

The technology advances we enjoy for our comfort, and any improvement in the management of our money are always welcomed. The digital payment options have also increased due to the current global pandemic.

Increasing digitization in the context of the pandemic

The health authorities recommended contactless payments at the start of the coronavirus epidemic. This allowed for the avoidance of using coins and bills. According to Banco Santander, BBVA, the almost total closure of commercial establishments resulted in a significant impact on monetary transactions. Cash withdrawals from ATMs dropped by 68% in March, according to a survey conducted by bank N26. Other entities estimate this drop to be between 50% and 60%.

The young population uses digital money

A study by Bnext, a financial platform, found that consumers aged 18-24 are more inclined to buy at odd hours: midnight, between 00:00 and 1:00. These online purchases are not only essential for this age group, but also happen throughout the day. This age group also has more use for digital money, such as the ability to send and receive digital money.

Cybersecurity for your money transactions

Cybersecurity is essential in digital pay, as cyberattacks can be very serious if we don’t have certain habits.

Secure web pages are required to pay. These begin with “https” in your browser.

Protect your data: Never send bank or credit card information via email, text message or social media.

Be shrewd: Before you buy from an online seller, make sure to do your research.

Keep your security protected: You should make sure that your antivirus is up to date for any device you intend to purchase, whether it be a tablet, phone or laptop.

COVID-19 is a significant step in digitization. It has made a shift in our daily routine. Are you still paying in cash, or are you switching to digital payments?

Marketing E Technology (MET Know)