Contactless Payments During Covid 19 Epidemic

Enhance Safety or How contactless payments could slow down spread of COVID 19 Virus.

As the entire world faces the biggest pandemic outbreak since the Spanish flu, the retail sector is doing its best job to support customers who would prefer using contactless payments in order to stop diseases spreading even further. The latest trends show huge demand for contactless payments since it’s much safer than traditional cash payments.

COVID 19 has more than 2.5 million cases with more than 171 000 resulting in death, this article might showcase the benefits of having contactless payments in order to prevent COVID 19 spreading even more.

South Korea and China governments disinfect and keep their bills in their safes for up to 14 days before re-circulating, it’s the same case for US bills that come from Asia.

According to some studies, it seems like COVID 19 can survive on any material for a few days, meaning if you use the cash you might be potentially helping the spread of the virus.

Paying contactless using cards or phones can provide enough distance from others and keep your customers safe. Besides what type of contactless payment you are using it can all be disinfected easily.

1st April, 2020 Barclaycard has announced it will be raising contactless payment limit from 1 April, this change might allow customers to buy more goods without any physical touching in the UK.

It is critical not only for the payments ecosystem but also for the economy as a whole to develop the payments solutions that will allow economies to emerge from the current crisis cost-effectively and define the post-COVID-19 new normal.

A switch to contactless payment might be one of the first steps to take. 

Source

https://www.cnbc.com/2020/02/17/coronavirus-china-disinfects-cash-in-a-bid-to-stop-virus-spreading.html
https://edition.cnn.com/2020/03/07/tech/mobile-payments-coronavirus/index.html
https://www.mckinsey.com/industries/financial-services/our-insights/how-payments-can-adjust-to-the-coronavirus-pandemic-and-help-the-world-adapt?cid=other-eml-alt-mip-mck&hlkid=1f1d2a539e024d2eb90c1e38dfdc2d2d&hctky=11497302&hdpid=90287504-8d3a-4952-8ad7-d1f0116b1ab8

Topics:  contactless payments, Covid-19

Recent Posts Pri-Num and Sberbank Kazakhstan add Mastercard payments to Sberbank Pay Android developer/middle Pri-Num and BPS-Sberbank: launch of the Garmin Pay for Visa cardholders