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Mobile payments trending higher (Image: Shutterstock).

Consumers turned to electronic payments at a faster pace in 2018, signaling rising trust and confidence in mobile wallets and other methods, according to new data from the Electronic Transactions Association and payments consulting firm The Strawhecker Group.

The Washington, D.C.-based global trade association reported that overall growth in consumer spending via electronic payments such as credit cards, debit cards and mobile wallets increased by 7.2% for the third quarter of 2018 compared to the third quarter of 2017, when the year-over-year growth was just 3.5%.

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Tina Orem

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