A billboard promoting e-payments in Mumbai. Photo: Indranil Mukherjee/AFP via Getty Images

Americans continue to rely on their credit cards, while the rest of the world rapidly moves toward mobile payments.

The big picture: China is the clear leader, with nearly half of the population paying for goods with their phones. But the fastest growth in the adoption of e-payments is happening in India.

By the numbers: "Digital transactions in India increased by 55% last year, compared with 48% in China and 23% in Indonesia," per Quartz. And India pulled 86% of its currency out of circulation in 2016.

Why it matters: By 2022, mobile payments from companies like Alipay, WeChat Pay and others are projected to account for nearly 50% of global e-commerce sales, Axios' Dion Rabouin reports.

  • Retail titans like Amazon, Walmart and Alibaba are pouring billions in investment into India, betting that as it moves away from a cash-based economy, it'll be the world's leading market for commerce.

Go deeper: The U.S. is out of step with the rest of the world on mobile payments

Go deeper

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Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 20,317,087 — Total deaths: 742,035— Total recoveries: 12,602,544Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 5,141,879 — Total deaths: 164,545 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten and Pac 12 scrap fall footballMLB salaries at 37%
  7. World: Lebanon reported record new cases as UN warned blast may drive spike — Fauci "seriously" doubts Russia's coronavirus vaccine is safe
Mike Allen, author of AM
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Photo: Jeff Kowalsky/AFP via Getty Images

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  1. She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.
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