Mastercard survey finds global spike in contactless payments

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.

forbes, best places to work, companies, white plains new york list 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.”