As the world went into pandemic lockdown in 2020, consumers shifted their spending habits to embrace contactless tap-and-go payments and online shopping. As stores closed and social distancing took hold, retailers worldwide moved their businesses online, embraced e-commerce and explored the potential of new ways to pay.
Over two-thirds of respondents agree they have tried a new payment method they would not have tried under normal circumstances, but the pandemic has galvanised people to try flexible new payment options to get what they want when they want it.With this interest and consumer demand also comes a greater expectation for businesses to provide multiple ways to shop and pay.
The index showed that contactless technology was the digital catalyst to explore new payment options because of its fast, secure, and touch-free experience.