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Contactless trends to grow 8X from non-contactless payments, USAT study

Thursday 10 September 2020 12:54 CET | News

USA Technologies has released a survey taken on businesses during the peak of the pandemic which showcased changes in behaviour and payment method.

USAT was able to get a close look at a few key trends that have emerged amongst consumers. Specifically, the survey data noted shifts in payment method and changes to products and services offered because of changing consumer demands. The data appears in a new infographic from USAT, which depicted the data analysed from 120,000 cashless terminals in order to compare the survey results against unattended retail terminal performance. 

From the survey conducted in early May 2020, 66% of respondents reported seeing more than 50% of their revenue impacted during the peak of COVID-19, with 48% of total respondents identifying that they were located in a COVID-19 hot spot. During the month of April USAT 2020 observed the largest decline in average sales per machine. 

By May 2020, the market showed signs of recovery, being driven by cashless payments, specifically contactless payments. The cashless terminals analyzed saw a 51% growth in sales per machine overall, with 61.7% of total sales in July 2020 made with cashless payments, vs 53.1% in January 2020. The accelerated adoption of cashless has spurred many in the industry not currently offering a cashless alternative to implement this payment method into their business model, according to the official press release.

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Keywords: USAT, USA Technologies, US, United States, contactless payments, non-contactless payments, study, pandemic, payment method, trends, consumer demands, infographic, retail, cashless terminals, COVID-19, cashless payments
Categories: Payments & Commerce | Payments General
Countries: United States
This article is part of category

Payments & Commerce