What happens when the “new normal” becomes just plain normal? Two years ago, shifts in consumer payment behavior that were considered radical are now increasingly being considered table stakes. Following a major surge in adoption caused by the pandemic, contactless payments and mobile wallets have continued to gain market share even as the pandemic’s effects subside globally.
According to Marqeta’s recent State of Consumer Money Movement Report, 75% of people surveyed across the US, UK, and Australia used a mobile wallet in the last 12 months. While the US is slightly behind the overall average at 71%, adoption among Americans is up considerably from 64% in late 2020.
GSTechnologies (LON:GST) overall development of the group includes large customer accounts and growing their blockchain payment and financial services business, with blue sky opportunities in new Disruptive Technologies with synergy to their existing business.