Digital describes information that is stored, processed and transmitted as discrete numbers, ultimately as binary ones and zeros, by computers and electronic networks. It contrasts with analog forms, which represent information through continuous physical quantities such as the grooves on a vinyl record, and with purely physical objects such as banknotes and paper cheques. In finance, "digital" is attached to almost every innovation of recent decades: digital payments, digital banks, digital identity and digital assets such as cryptocurrencies. Most money today is already digital, existing as entries in bank ledgers rather than as cash, although the word is often used loosely in marketing to mean simply "online" or "app-based". The opposite end of the spectrum is covered under analog payments.
Last updated 13 Nov 2026