As a society, it is imperative that we are constantly prepared for rapid changes in technology. Every fact of our lives has been turned upside down in the past decade due to new advancements, many of which were heightened because of the pandemic. The COVID-19 pandemic forced us to do many things differently, putting importance on social distancing, contactless operations, and virtual interaction. The payment industry was just one of the many that were forced to change during this time, making way for digital money to rise to the top. Research has shown that a large portion of Americans do not use cash during any given week, relying now on digital wallets and other forms of online payment. Bitcoin and the world of cryptocurrency have also taken off, becoming an essential part to how many businesses and services operate. For example, the casino industry has capitalized on the accessibility of digital payment options through the use of PayPal to distribute payouts. PayPal has seen incredible growth over the past few years, making it a sure option for industries trying to reach customers around the globe.
The digitization of money has allowed for an increase in payment revenue in almost all global territories. Both companies and individuals can now send and receive payments efficiently, easily, and at the touch of a screen. The days of paper money are long behind us, and the future is looking brighter than ever.
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