A more hygienic way to pay
01 Jul 2020
The coronavirus pandemic has proved to consumers that contactless payments are a simpler, faster and more secure method of payment than others, with most making the change for the digital way.
Having already had influenced consumer behaviour, contactless payments became more popular during the pandemic, pushing those retailers which had not yet made the switch, to start accepting such payments. As a result, most retailers and service providers transitioned to cashless, ITProPortal reports.
Why did this happen during the pandemic? Shoppers saw contactless payments as offering reassurance, as they would stay away from transactions that used physical money.
Both the European Banking Authority (EBA) and the World Health Organisation (WHO) urged shoppers to avoid using cash and recommended contactless payments for consumer protection and to facilitate safe payments.
As a result, in the UK, PIN-free card payment limits have been raised from £30 to £45 whilst European countries pushed the limit up from €30 to €50. The move was made to promote the use of contactless payments, preventing consumers from touching ‘dirty’ pin pads.
In 2019, payments worth around £80.5 billion were made, increasing by 16% from 2018. Consumer behaviour, ITProPortal states, with a card tap being preferred than cash payments.