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Contactless debit transaction numbers remain elusive.
Mercator Advisory Group releases new research that looks at contactless payment activity and the degree to which COVID-19 is affecting its growth.
Published on: July 22, 2020 Author: Sarah Grotta Alternate Point of Contact: Amy Dunckelmann
COVID-19 has created consumer interest and use of contact-free payment experiences as fear of infection from surfaces, including a point-of-sale (POS) device, drives new behaviors. While reports and surveys proclaim cardholders’ interest in contactless technology, the actual number of contactless debit transactions authorized on a contactless card or mobile app remains elusive. This report, COVID-19: The Power Behind Contactless, considers the available market data and Mercator Advisory Group research to better understand the level of contactless payment activity and the degree to which COVID-19 is affecting its growth.
“The onset of the coronavirus created the perfect storm of events that is driving awareness more quickly than all the promotional activities have to date. Cardholders’ wellbeing is the incentive to adopt a new payment method. More consumers are now aware of the contactless capabilities they have on their debit card, which is driving new users in addition to increased use by current users,” comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group and author of the report.
This report has 13 pages and 3 exhibits.
Companies mentioned in this report include: Apple, Costco, CVS, Starbucks, Target, Visa, Walmart.
(Click to Enlarge)
Highlights of the report include:
Commercial & Enterprise Payments
Debit & Alternative Products
North American PaymentsInsights
Small Business PaymentsInsights
Fraud Experience PaymentsInsights
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