Due largely to their advanced technical preferences in commerce, Generation Z (Gen Z) and Millennials have summoned a new era of payments. Born after 1995, Gen Z has been defined as the first generation of true digital natives, having grown up with technology and social media available at their fingertips.
By 2029, Millennials and Gen Z will make up 72 percent of the world’s workforce. By the time the final cohort of Gen Z enters the workplace in 2030, they are expected to make up a quarter of the world’s income, with $33 trillion at their disposal. With that in mind, it is not an overstatement to suggest that Gen Z expectations and purchasing power will play a major role in shaping the future of business.
