Digital Money transfers get COVID-19 boost as consumers shun cash

This is according to research published by Paysafe, which surveyed 8,000 consumers across the Germany, Bulgaria, Canada, Austria, the US and the UK.

It found that over half of consumers had used digital transfers to give money to friends and family at least once during the first month of lockdown, with 20% doing so more than twice.

Meanwhile, many consumers are increasingly shunning the use of cash, with 43% saying they had cut down on the amount they handled cash over concerns relating to the transmission of the coronavirus.

continue reading ...