➤Study indicates that digital payments should surpass that of credit cards in 2019 🕹

The United Nations Conference on Trade and Development (UNCTAD) released a study on the changes that technology is expected to bring to the global economy in the coming years. According to the document, digital means of payment, such as PayPal, Apple Pay and Samsung Pay, will surpass credit cards in 2019 to pay for purchases made over the internet.

According to the survey, currently more than half of payments for purchases made through e-commerce are paid by credit or debit card. The organization believes that this percentage will drop to 46% in 2019. This is all due to an increase in the use of virtual wallet systems and mobile payments.

Study indicates that digital payments should surpass that of credit cards in 2019 — Study indicates that digital payments should surpass credit card payments in 2019.

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In more economically developed countries, such as the United States and Europe, the change should be more felt. Elsewhere, cards are still infrequently used to pay for online purchases. In Egypt, for example, 90% of e-commerce transactions are paid in cash upon delivery.

In Kenya, however, the situation is different, virtual payment systems have already surpassed cards as a means of payment for these purchases. In China, 68% of the population already uses the Alipay mobile payment system from Alibaba.

According to a UNCTAD report, the shift to digital forms of payment has several advantages. Overall, digital payments "make transactions faster, reduce friction and lower transaction costs, offering productivity gains," the document says.