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COVID-19 drives use of contact-free payment experiences

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 and drives new behaviors, according to Research and Markets.

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, adds the research group.

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. Research and Markets says 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.

Highlights of the Research and Markets report include:

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