Coronavirus consolidates shift to contactless payments

The Coronavirus pandemic has accelerated the shift away from cash, with nearly a third of consumers (32 per cent) preferring to pay via contactless methods and 70 per cent choosing online payments over in-store.

A survey of 3,000 consumers in the UK, US, Canada, Australia and Singapore by digital transformation consultancy Publicis Sapient, found that social distancing measures were accelerating the call for more contactless interactions and the use of digital tools to facilitate everyday tasks.

The survey also found that the ability to pay using contactless was a key factor in store selection, with 61 per cent saying it would be a deciding issue in their choice of grocery shop.

A total of 37 per cent of UK respondents used tap-to-pay credit cards to pay for purchases in a physical store, followed by a quarter who have used Apple Pay, with Samsung pay lagging behind on five per cent.

As physical stores were forced to close during lockdown, online shopping surged, with 71 per cent of people shopping online more than they usually do and nearly half (48 per cent) saying they will do so more in the future.

Over the last three months, 97 per cent of people have at least one category that they prefer to shop online. The most preferred category is apparel, shoes, or accessories (59 per cent), followed by household supplies (52 per cent) and electronics (49 per cent).

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