The use of digital payments is no longer restricted to young, tech-smart consumers – and, instead, now reflects the attitudes and functional needs of shoppers in various generations.
Such insights emerge from a new study by McKinsey, the management consultancy, which found that 77% of US consumers now utilize digital-payment technologies including:
- in-app transactions, using brands like PayPal and VisaCheckout;
- in-store mobile payments, as facilitated by tools such as Apple Pay and Google Pay;
- online purchases, as exemplified by checking out on Amazon.com’s ecommerce hub;
- peer-to-peer money transfers, as enabled by Venmo and Zelle and equivalent...