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Cash as a means of payment is on the decline, as digital payments have surged in 2020, not least due to the COVID-19 crisis.
Digital wallets are online payment tools that may come with several functionalities: Some wallets let you store tickets, loyalty cards and some types of ID in addition to different means of payment (debit, credit or prepaid card, bank transfer, cryptocurrency etc.).
Instant payments are transfers of funds from the payer (sender) to the payee (recipient) in real or near real time. Immediate settlement between the payment service providers is not necessarily required.