The pandemic ushered in an era of mass digital adoption as consumers looked to fight off the chances of contracting the virus. Digital payments volume and “the number of digital accounts increased significantly in 2020 as online commerce represented a larger share of overall commercial activity,” the report said.
This year, Bill.com, an expense management software company, acquired the company now known as DivvyPay Inc. for $2.5 billion while Tyler Technologies Inc. acquired government payments company NIC Inc. for $2.3 billion, the report said.
