The use of credit and debit cards has grown for decades, and many observers, including Payments UK, are expecting growth in both value and volume of payments to continue. Recently this has been driven by the increase in the use of contactless payments and the use of mobile wallets aligned to credit or debit cards as well as the increase in online shopping. But PSD2 could change all this.
PSD2 introduces some factors that could halt the growth in card usage – or even start to reverse it. Here are three trends to watch.
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