In usual circumstances, learned payment habits offer consumers a sense of normalcy and these can be
difficult to change without a significant amount of time and resources. This is
because people are very careful when dealing with money and they are wary about
using new methods since they have concerns related to safety issues. For quite
some time, the use of contactless cards
in stores has been slow but steady. In 2018, it reached a 50% tipping point of
all transactions. Nonetheless, the outbreak of the pandemic has accelerated
adoption.
Experts are predicting that even after the lockdown, people will
still keep using these innovative payment methods. An analyst advanced, “Habits
are being changed and will be permanent for many cardholders”. He further
argued that if another pandemic wave hits when we enter flu season in the fall,
then no-touch settlements might become forever dominant when people are
checking out. According to a survey, 66% of all UK transactions are now
contactless. Additionally, 76% of customers in the country have revealed that
even the pandemic ending would not change their contactless usage habits.
Moreover, 66% stated that no-touch is now their primary in-store payment
method and 21% had switched their primary card
to one that is contactless-capable.
People
are using contactless payments in-stores
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