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Meanwhile, the banking industry is making investments in technologies like contactless cards and near-field communication (NFC) terminals, so that customers can easily pay for their purchases without having to use cash. In addition to making payments easier and more secure, mobile payment solutions are helping to bring banking and financial services to underserved populations. By providing access to banking without the need for physical bank branches or ATMs, mobile payments are making financial services more accessible and improving the lives of low-income individuals and households. Furthermore, the mobile payment revolution is having an impact on the financial sector as a whole. By providing enhanced security, convenience, and access to banking services, mobile payments are changing the way people use and manage their money.
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