To help fight disease transmission, retailers are encouraging consumers to use low-touch or no-touch forms of payment whenever possible. Along with helping to protect consumer and employee health, this move prevents cashiers from having to sanitize the keypad after a debit or credit card transaction.
“We studied the change in contactless payments because rapid shifts in tenders may impact shopper marketing programs and the loss prevention analytics for a retailer,” said Steve Prebble, president of Appriss Retail. “Although the decline of cash has been a decades-long trend, COVID-19 has sped up the transition to these newer mobile wallet and tap-to-pay payment types. Consumers appear to be making a conscious choice to use payment forms that are convenient and allow them to avoid touching a keypad or handling money.”
“The Rise in Contactless Payments During COVID-19” is the third report released by Appriss Retail that marks the impact of COVID-19 on retail operations and consumer behavior. The other two reports, also available on the website, are “COVID-19, Unemployment, and Retail Risk,” and “The Influence of Social Media on Retail Sales of Essential Items During the 2020 Pandemic.”
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