Contactless payments lead the pack by a wide margin in terms of preferred payment methods. This should be a big wake up call to any businesses that have yet to implement this technology. Having said that, cash and chip payments, which involve contact, make up 43% of first preferences. The old ways aren’t done yet.
But if worries and fears around health and safety grow, particularly as the pandemic goes on and we get used to doing all we can to stop local outbreaks, preference for contactless payments could start to outweigh contact-dependent payments before long.
What we can see is that the picture is constantly evolving. Many may be getting used to the pandemic as it is, but how we adapt in the long term is still becoming apparent. It’s likely that safety will be as much a selling point as great prices for stores, for the foreseeable future at least.
For more data on payments and a cashless future, read our report on financial services in 2020.
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Brandwatch Response Team