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Small businesses and payment firms are finding it increasingly difficult to survive online due to the growing sophistication of cyber-attacks.
This is according to new data by global payments giant Visa which shows the challenge faced by smallest outfits when moving online even as more consumers adopt digital payments.
"In Q1 2021, the contactless payment rate was 42 per cent. In nine months, it increased up to 60 per cent (+18 per cent) and maintained the growth after that. In a post-pandemic and recovery stage, consumer preferences remained the same."
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