US Hispanics number at around 61 million, with the median age of the group being 29 compared to the national average of 38. This means that statistically, the Hispanic community in the USA are more likely to utilize and to adapt to the latest tech innovations. The Hispanic community is said to spend $1.4 trillion in the digital payment sector annually. The digital trend is a development in the payments industry that has proven to be big in Latin America, and is also seeing continuous growth in the US as a whole. But to what extent are we seeing the digital payments industry dominate America?

Cryptocurrency

Research shows that Latin America is the one to beat when it comes to citizens getting involved in cryptocurrency. Five of the top 10 countries that use crypto the most are located in Central and South America. For instance, 18% of Brazilians and Colombian respondents claim to own and regularly use digital assets such as cryptocurrency, while 16% of Argentinians claim the same. The acceptance of cryptocurrency has migrated to the USA too, with businesses from BMW, Goldman Sachs, Microsoft, and even vending machines across the USA, have adapted to the new form of digital payment. The growth of businesses accepting Bitcoin and other cryptocurrencies illustrates the move towards the acceptance of the wider digital payments industry and wider understanding of how it could benefit the consumer.

Online casino payments

Online casino is often a proponent of change and utilizes methods that may seem futuristic or extremely technologically advanced for other industries. When an industry is solely based online, it has the freedom to investigate new avenues of handling money from its digital customers. As the review of Jackpot Village shows, being able to offer multiple payment methods in addition to PayPal or bank transfer - such as Neteller - makes the site itself more attractive to potential players. While online casino may be a growing microcosm of the wider tech world, the fact that it has such a range of e-wallet options, such as Skrill and Paysafecard, means that the world could be closer to adopting digital payment as the mainstream method of spending.

Online retailers and casinos and the future of digital currency

In some areas, more people have access to an internet connection than they do a bank, hence explaining the rise in mobile banking and using smartphones for digital payments. But, those who opt for mobile banking aren't just doing it out of necessity. Banks such as Monzo, which succeeded in the UK and is now migrating over to the US, allows customers to track and analyze their expenditure in a better way. Many are opting for these digital banks as their primary accounts and within the decade, those who use digital banking are set to increase tremendously.

Digital payment methods are fast becoming the new form of currency. Being able to use smartphones in lieu of bank cards and transfer cash from peer to peer without the intermediary of the bank, has helped simplify everything from business to personal finance. Latin America is a strong example of the thriving digital payments industry. This may stem from ease for businesses and customers or because of the changeability of currencies that operate in Latin America - and the fact that digital payment methods could mitigate some of these issues. From online casino at the forefront of e-wallet acceptance, to the rise in cryptocurrency and mobile banking, it's clear that digital payments are to be the future and perhaps the Latina community will be one of the first to truly adopt the technological advancement.