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Contactless payments for everyday purchases increase globally

Friday 1 May 2020 09:00 CET | News

A Mastercard global consumer study has shown that in 2020 contactless transactions grew twice as fast as non-contactless transactions in the grocery and drug store categories.

During February and March 2020, as many countries imposed necessary restrictions to promote social distancing, a significant majority of consumers turned to contactless card payments for necessary purchases. 79% of respondents worldwide say they are now using contactless payments, citing safety and cleanliness as key drivers. 

Consumer polling by Mastercard, studying changing consumer behaviours in 19 countries around the world, paints a picture of accelerated and sustained contactless adoption. Shoppers around the world have had to adjust to social distancing measures and other new challenges when buying everyday supplies. This shift in consumer behaviour is particularly clear at checkout, as people express a desire for contactless and voice concerns over cleanliness and safety at the POS, according to the new Mastercard study. 

Other findings show: 

  • perceptions of safety and convenience have spurred a preference for contactless cards and reminded consumers of the convenience of tapping on a global scale – globally, nearly half of respondents (46%) have swapped out their top-of-wallet card for one that offers contactless; 

  • the global disruption has led to increased concern from consumers on cash usage and positive perceptions towards contactless – the majority of respondents (82%) view contactless as the cleaner way to pay, and contactless payments are up to ten times faster than other in-person payment methods; 

  • approximately three quarters (74%) state they will continue to use contactless post-pandemic – the current situation is reinforcing contactless use in markets where adoption is more mature, and it is stimulating use in newer markets.


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Keywords: MasterCard, contactless cards, study, contactless payments, cards, POS
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce