The Resurgence of Contactless Payments Due to COVID-19

The COVID-19 pandemic has introduced us to new ways of living. From personal to the professional, it has forced us to make a paradigm shift in our lifestyles. Working from home, shopping online, social distancing, and frequent sanitisation are the new normals. However, they are just the tip of the iceberg when you look at the whole picture. There are a few habitual  changes caused by COVID-19, which are bound to persist in the post-COVID world, forcing us to lead a digital first life. Instead of wandering through shopping malls, we now scroll through e-Commerce websites, and in place of wallets/purses, we carry our e-wallets.

Let's see what has propelled the resurgence of contactless payment solutions during this period.

Hygiene Risk with Cash Exchange

Today, hygiene has become the topmost concern for everybody around the world. In March 2020, the WHO had instructed everyone to sanitise their hands every 30 minutes, stay indoors, and maintain strict social distancing. It was believed that cash could be one of the primary carriers of the virus, and thus, a lot of countries had proposed the use of digital payments over  cash. Although health experts later said that there is no clear evidence on whether cash plays any role in the spread of this virus, people anyways preferred digital transactions, to stay on the safer side.

Contactless Payment Methods are in Line With Hygiene Norms

Ever since COVID-19 hit the globe, we turned into home bodies. Since we are wired to our laptops (thanks to working from home), shopping and ordering groceries from eCommerce stores has become extremely convenient. We step out of our homes only if we need to and  even if we do step out to shop at a store, we follow all sanitary measures and prefer the billing process to be as quick as possible with least physical contact with anybody/ thing.  Contactless payment solutions are not only in line with social distancing norms by allowing zero physical contact, but also accelerate the whole billing procedure, enabling us to spend minimal time within a store.

Government’s Push for Digital Payment Methods

The government has been using this opportunity to encourage digital payment methods like UPI and QR codes, as much as possible more. While demonetisation and the government’s push for a cashless economy had already driven the growth trajectory of digital payments, coronavirus has led to a steep rise in the usage of digital payments. According to Mint, an Indian financial daily, the number of UPI payments made in India hit a new milestone in October, with 207 crore transactions.

Ease of Use

It is no news that digital payments, like most digital processes are quick, seamless and highly convenient. Due to which millennials and Gen Z quickly adopted digital payments. However, the older generations that previously had apprehensions towards digital payments are also getting UPI/ QR-code savvy thanks to push by COVID-19 and related safety issues with physical touch.

Coronavirus has exposed us to the digital world and has caused the unexpected resurgence of contactless payments like never before.

If you are a retailer who wishes to begin with contactless payment methods, reach out to us. We, at Ezetap, offer merchants a range of contactless payment options like static QR codes, SMS Pay, Dynamic QR codes, NFC cards, and UPI. Each of the aforementioned methods ensure a contactless payment experience. Our zero-contact payment methods are not limited to in-store transactions, but also facilitate digital transactions at customers’ doorsteps.