The global COVID-19 pandemic appears to be having an impact on point-of-sale credit card transactions, according to a new survey released by Purchase-headquartered Mastercard.
In a poll of 17,000 consumers in 19 countries conducted from April 10-12, 79% of respondents said they are now using contactless payments for their point-of-sale buying, citing cleanliness and health safety as the primary factors. Furthermore, 46% of respondents – along with 52% of those under 35 years old – said they substituted their top-of-wallet card for one that offers a contactless option.
And when the pandemic is in the history books, 74% of respondents predicted they will continue to use contactless payments.
“Social distancing does not just concern people’s interactions with each other – it includes contact with publicly shared devices like point of sale terminals and checkout counters,” said Blake Rosenthal, executive vice president and head of Mastercard Acceptance Solutions. “Contactless offers consumers a safer, cleaner way to pay, speed at checkout, and more control over physical proximity at this critical time.”