The list of changes we are all facing amid the Coronavirus is constantly growing. Now as you check-out at a store or restaurant you may see X’s on the floor to social distance everyone out or some type of plexiglass to try to create a barrier between you and cashier. One of the items that have been added to the list is to try to introduce contactless payment at restaurants and stores. Contactless payment has been introduced to try to keep the whole exchange as safe as possible while trying to take precautions.
Visa exec Kevin Phelan spoke to us about a new small business survey the company conducted on how small businesses are adapting to these major changes, and how consumers are changing their spending habits.
Both safety concerns and economic realities are driving this shift, Phelan says. “They had to address consumer safety, which many of them have done. They also said, I’ve got to bring new consumers to us. Because quite honestly, some of the consumers that I was previously able to contact, I may not be able to contact them.” Hence, a shift to new digital sales channels, even if it’s just a Shopify button, and finally retiring the old Square card-reader dongle in favor of true contactless payments for just about everything.