According to the Visa Back to Business Study, small businesses are rolling out new forms of in-store contactless payments. The 82% increase of small businesses using contactless payment is up from the mere 20% in June 2020. And it is showing no signs of slowing down in 2021.
Since the pandemic, small businesses have shifted towards digitizing their operations. This includes selling products and services online (43%), accepting contactless payments (39%), targeted advertising on social media (38%), and digitizing business functions like backend payment operations (30%).
Additional findings of the study include:
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