COVID-19 is having a profound effect on the payments market. Concerns that the virus can be picked up from contaminated cash and point of sale (POS) terminals for credit and debit cards has consumers turning to contactless payment methods as a more hygienic solution. Not only is the pace of adoption accelerating around the world, spending limits are rising as well. To top things off, the United States has shed its status as global outlier and is finally embracing the technology with full force, signaling a tipping point for contactless payments.
Related ETF: ETFMG Prime Mobile Payments ETF (IPAY), Global X FinTech ETF (FINX)
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