The global payments industry is dramatically improving due to technology. Mobile has changed everything. Payments are getting faster and smarter. Competition is intense. And payments are revolutionising markets in the developing world even faster than in the developed world.
In just the next seven years, the McKinsey Global Institute estimates that widespread adoption and use of mobile money could increase the GDPs of all emerging economies by 6 percent, or a total of US$3.7 trillion.
But how does this progress in the payments industry affect the payment decisions we make at an individual level?
Our payment decisions are a reflection of our culture, our available options, and ourselves.