New technologies are enabling consumers and business to experience faster payments than ever before: While only 25 real-time payment systems were operational worldwide last year, 40 such rails were live this September, and 67 percent of consumer payments are now made electronically. At the same time, vegan delivery startup Thistle has had astronomical growth, as modern five-and-dime retailer Five Below is opening new stores as other retailers are closing locations.
Data:
1879: On this year, Frank Woolworth pioneered the five-and-dime concept with the opening of the “Great Five-Cent Store.”
1,030 percent: Vegan delivery startup Thistle has grown by this rate over the past three years.
67 percent: The share of consumer payments that are made electronically.
40: The number of real-time payment systems live worldwide as of Sept. 26.
25.9 million: The average number of faster payments transfers made daily in China.