Contactless Payments

The coronavirus pandemic has transformed the way people shop and conduct their purchases. Customers have opted for digital contactless payments given the lockdowns and social distancing norms set in place. As per a study by the payment firm FIS, around 45 percent of banking partners have changed the way of interacting with financial institutions. While 31 percent of participants prefer mobile and contactless payment methods instead of cash due to the COVID-19 pandemic. As such, 7-Eleven has become one of the latest…

Mswipe is adding more advanced financial technology features to support brick and mortar businesses in the e-commerce ecosystem. The leading fintech and payments services platform has announced adding PayByLink for contactless collections from customers, in addition to launching a free-to-use business website to enable small businesses and proprietors to go live online with their own website within minutes. These will help small local marketing and retail firms take full advantage of fintech capabilities and compete with…

During February and March, as many countries imposed necessary restrictions on social distancing, a significant majority of consumers turned to contactless card payments for necessary purchases. 79 percent of respondents worldwide say they are now using contactless payments, citing safety and cleanliness as key drivers. Consumer polling by Mastercard, studying changing consumer behaviors in 19 countries around the world, paints a picture of accelerated and sustained contactless adoption. “Contactless offer consumers a…