Tap to pay—are cards going the way of the flip phone?

Answer: 29%

Questions:

• What advantages do mobile payments have over using a physical card?
• How do you think mobile payment trends will evolve in the next five years?
• What challenges or concerns might prevent people from adopting mobile payment methods?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the Numbers (Clearly Payments):

"Contactless cards account for the majority of contactless payments globally. In regions like Europe and Australia, contactless card payments represent over 60-70% of total card-based transactions. As of 2023 in the USA, credit and debit cards dominate the contactless payment landscape, accounting for around 62% of all contactless transactions (mobile wallets make up about 29% and wearables are 9%). "

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.