As digital wallets become more prevalent, it’s not surprising that a growing number of retailers are embracing the trend to increase and facilitate more sales, according to Market News Updates ( Digital payments, through apps like Apple Pay, Venmo and Zelle, are faster, easier and generally more secure than some traditional payment methods.

Digital payments grew to about $721 billion in 2017, according to Experian. And the Global market is exploding at an impressive rate. Mobile payment transactions in China alone added up to more than $12.8 trillion last year, making it the world’s largest mobile payments market.

Now leading tech companies are accelerating efforts to tap into the market, with Google recently launching Google Pay in a move that rebrands and unifies its previous mobile payment apps as it rolls out new features and plays catch-up with Chinese payment services like WeChat Pay and Alipay.