It’s no secret that the coronavirus pandemic has caused consumption in many different sectors to crash.
But it cannot slow down the surge in electronic payments (paying for goods or services on the internet via computers, smartphones or tablets), and top digital payment stocks have benefited.
In fact, improvements are being made in contactless, scan-to-pay and Secure Remote Commerce (SRC) to promote a quicker, safer and better way for people and businesses to make and receive payments.
Store operators are even selecting digital wallets and other online payment modes over traditional offline payments.
In its Worldpay 2020 Global Payments Report, financial technology leader Fidelity National Information Services Inc. (NYSE: FIS) said digital wallets are expected to become the most popular means of online payments, acquiring a market share of 52% by 2023.
Global economic shutdown or not, people still need a way to send, receive and process payments. As people continue to move away from paying in person with physical cash, top digital payment stocks will soar.
So what are the top digital payment stocks to buy or even just watch right now? Keep reading to find out the top two players I’ve set my sights on…
Social distancing rules have become a top priority to contain the spread of the infamous coronavirus.
It has also changed the way people carry out business transactions. Contactless — or digital — payments is the most preferred option for safety concerns given its convenience.
In fact, a recent survey of more than 11,000 consumers in 11 different countries discovered a massive uptick in the adoption of digital payments. The U.S. clocked in the largest rise with 46%!
That’s an 8% increase from a year ago, and why I’m giving away my top digital payment stocks today…
What do you think about the shift to digital payments? Are digital payment stocks something you will invest your hard-earned cash in? I’d love to hear your thoughts in the comments below.
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