SAN FRANCISCO—The COVID-19 crisis has sped up the adoption of digital payments, part of a transition that Visa argues could help it tap opportunities worth many times more than the market for retail payments.
While Visa is best known for its plastic credit and debit cards, MarketWatch noted the company has been making a push into other elements of the payments universe, including cryptocurrency services as well as disbursement technology that enables things like on-demand payouts to gig-economy workers.
“The company sees new payment flows as a way to get in on $185 trillion worth of money moving outside the checkout landscape, dwarfing the already sizable opportunity that exists in converting the $17 trillion of cash currently in circulation over to cards,” MarketWatch stated.