The November 2022 Aite-Novarica Group report analyzes COVID-19’s impact on the global payments ecosystem, highlighting shifts in consumer behavior and payment methods. Card-based transactions surged as cash usage declined, driven by health concerns and restrictions. Contactless payments and e-commerce saw rapid adoption, while fintech investment remained strong despite economic challenges. Post-pandemic, these trends are expected to persist, with digital payments continuing to grow and cash usage unlikely to return to pre-pandemic levels. The report emphasizes innovation, adaptability, and strategic investment to meet evolving consumer payment preferences.

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