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Consumers Shifting Away from Credit Cards to Alternative Payment Methods
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Consumers are switching away from credit cards to alternative payment methods, such as digital wallets and buy now pay later. Digital wallets are gaining popularity due to their convenience and security. Millennials are driving the adoption of mobile features for bill payments, while Gen X leads mobile adoption for grocery purchases.
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How can credit card companies adapt to the shift in payment methods?
How can mobile wallet providers improve security features to increase adoption?
What are the potential implications of the increasing credit card debt held by consumers?
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