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Anonymous

Hey I am on Medial • 1y

🔵 The Global Decline of Cash: Opportunities for Fintech Startups ➡️ Recent data from WorldPay’s Global Payments Report 2024 reveals a significant shift in global payment trends, with cash transactions declining rapidly worldwide. This trend presents exciting opportunities for fintech startups and digital payment ventures. Even in traditionally cash-heavy economies like Nigeria, cash usage has plummeted from 90% in 2019 to 55% in 2023. ➡️ Countries such as Canada, New Zealand, and Nordic nations are already seeing cash become a rarity. By 2027, major economies like France, Singapore, South Korea, the U.K., and the U.S. are projected to see cash transactions fall below 10% of total transaction value. This global shift toward digital payments opens up vast possibilities for innovative startups in areas like mobile wallets, contactless payments, and blockchain-based financial solutions. For startup founders, this trend signifies a golden Opportunity.

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Sajin
•

Foundation • 1y

Disagree. It has already dropped very low, and many people have moved to cashless payments. This means many have captured higher market share and gained a dominance. The area is now saturated, and a highly declining opporunity for FinTechs. Only companies with high innovation can penetrate and break the market.

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