While cold, hard physical cash may still be king, there is no denying that mobile and digital payments are on an upward trajectory. According to the 2016 U.S. Federal Reserve payments study, there were over 144 billion US non-cash payments made in 2015 with a value of $178 trillion. With this much opportunity, there are bound to be openings for market disruption and innovation. Below is a diagram from Frost & Sullivan1 that provides an overview of the ecosystem in the US digital payment market in 2017.
The Future of the Finance challenge came to a close on Jan. 23 after bringing together startups to share how they can revolutionize the financial industry. We're pleased to spotlight the winner in this post.