Majority worldwide turns to contactless card payments for necessary purchasesFinance | 12 May 2020 7:30 pm
During February and March, as many countries imposed or strengthened social distancing measures due to Covid-19, a significant majority of consumers turned to contactless card payments for necessary purchases, a survey by Mastercard found.
Citing safety and cleanliness, 79 percent of people worldwide and 91 percent in the Asia Pacific say they are now using tap-and-go payments, according to the Mastercard global consumer survey.
Globally, 46 percent of respondents have swapped their top-of-wallet card for one that offers contactless. In Asia Pacific, 51 percent of people have made the swap.
Meanwhile, Covid-19 has increased concerns about cash usage and led to positive perceptions about contactless due to the safety and peace of mind it provides. The majority of respondents (82 percent) globally view contactless as the cleaner way to pay, with 80 percent in Asia Pacific saying the same. Contactless payments are up to 10 times faster than other in-person payment methods, enabling customers to get in and out of stores faster.
This trend appears to be here to stay as 74 percent of people globally and 75 percent in Asia Pacific state they will continue to use contactless after the pandemic is over.