Infographic: Will Android Pay make cash go away?

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With the launch of Android Pay this week, it was inevitable that the conversation would turn to cash. How would it fare against not only the penetration of Apple’s payment service, but now another 25m-30m phones figure from analysts at IHS) that work with Google’s payment service?

In the infographic below from MBNA, the credit card provider’s head of Innovation, Gary Watts, says cash payments could decline by as much as 50% in the next ten years, exacerbated potentially by the introduction of yet another mobile payments service, Samsung Pay. That’s not mentioning the likelihood of a massive improvement of our network/wifi coverage. Something that small businesses are very vocal about.

 

infographic showing the potential future of payments with contactless

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