This has led to greater financial inclusion, supporting much of the non-bankable population
Contactless payments are rapidly gaining ground across the globe. Driven by customer convenience and efficiency, this innovative payment method has opened up new dimension for daily transactions undertaken by consumers. Mobile wallets, online payment providers, near field communication (NFC) technology, have and continue to transform the space, and allow merchants to increase their point-of-sale transactions through customers making cashless payments, or using simple “Tap-and-Go” payment solutions. Many countries in Europe, such as Sweden are currently leading the field, and have made significant progress to becoming a more cashless society as many consumers use handsets, cards or online platforms for day to day purchases.