Fintech: retailers should adapt to consumers’ needs

These past few days have demonstrated a rise in the number of fintech services used. Since people are wary about utilising cash, they have opted for digital payment solutions. It is expected that this will still be the case even after the pandemic is over. A report called, ‘Lost in Transaction’ has disclosed that 55% of consumers will be using contactless more in the short term due to health and safety concerns and 48% will reduce the amount of cash used. As such, retailers must adapt to the situation and offer settlement facilities that are in line with consumers’ requirements.

Cashless payments are becoming more popular