Education: J.P. Morgan Payments: How Payments Ate the World [Video]

JPMorgan

"It’s 2010. The fastest way to move money on the same day from New York to London is to catch a flight and carry it with you. Over 90% of all transactions globally still happen in cash. Ecommerce is a niche industry, and sales are less than five percent of global retail. It’s crazy that this was only 15 years ago. Now, two-thirds of all payments globally are digital—around 1.5 trillion transactions per year. With a simple tap of a card people can pay for a practically limitless array of goods and services from virtually any location on the planet. So how did we get from there to here? This is the story of how payments ate the world..."