The surge in the use of mobile phones and the rise of the e-commerce market, especially amid the coronavirus pandemic, led to the rapid adoption of digital payments worldwide. European countries are no exception, with millions of people choosing cashless payments over cash and credit cards.
According to data presented by Finaria.it, Europe is set to witness the most impressive digital payments growth this year, with transaction value surging by 28.3% to $1.17 trillion. The noticeable upward trend is expected to continue in the following years, with the entire industry reaching $1.95 trillion value 2025.