More than 300,000 Android users have downloaded banking trojan apps via the Google Play Store. (Threat Fabric)
100 Mind-Blowing Banking Facts
Only 8% of the World’s Currency Is Physical Money: Interesting money fact: With mobile banking and electronic payments becoming more and more common, people are earning and spending money without having to even touch it. Economists estimate only 8% of the world’s currency is literal cash with the rest existing on computer hard drives in electronic bank accounts.
In Ireland, we are moving out of money and into debit and credit cards. For the quarter up to June 2024, 85.5% of point-of-sale payments were contactless. In 2023, there were 4.1 billion payments made – 11 million payments per day – the majority of which were through payment cards and mobile and online banking, while cheque usage in 2023 fell to less than half the volume in 2019.
The concept of money in the UK has evolved from commodity money, such as precious metals and livestock, to representative money like banknotes and coins, and now to digital money, such as online banking and cryptocurrency.