28 min
COVID-19 Causes Surge in Contactless Payments – Ep2 The DevPro Journal Podcast
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- Technology
We’ve all been living in this coronavirus world now for a while and have adopted best practices for our safety. For many, playing it safe means minimizing risks. There are, of course, many ways we’re doing that, including social distancing, wearing masks, washing our hands regularly, etc. Nearly every aspect of our lives has been evaluated and affected in some way by this pandemic.
Consider how we pay for things when we’re shopping. Exchanging cash for payment requires close physical contact and carries some risk. This was a concern early on. In March, the World Health Organization recommended the use of contactless payments whenever possible to reduce transmission of the virus via cash.
While there isn’t a ton of evidence that cash and traditional cards are a potential threat to spread the virus, many are happy to minimize the risk of infection. To further reduce risk, there are reports of people turning to contactless payments. In fact, one report indicated that 30% of consumers have started using contactless payment methods to minimize the risk of exposure.
If you don’t know, contactless payments include chip cards that allow you to tap and go, rather than a swipe or, in the case of EMV, dip your card. Contactless also includes NFC payments with your smartphone using apps such as Apple Pay and Google Pay.
Despite speed, security and convenience benefits of contactless payments, U.S. adoption lags behind the rest of the world. Now, with the spread of the coronavirus, is the appetite for contactless in the U.S. finally here? Are merchants equipped to handle contactless payments? What steps can software developers take to enable their merchants?
To answer these questions and more, we’re talking today with PJ Tierney, Vice President - Integrated Payments for EVO Payments.
We’ve all been living in this coronavirus world now for a while and have adopted best practices for our safety. For many, playing it safe means minimizing risks. There are, of course, many ways we’re doing that, including social distancing, wearing masks, washing our hands regularly, etc. Nearly every aspect of our lives has been evaluated and affected in some way by this pandemic.
Consider how we pay for things when we’re shopping. Exchanging cash for payment requires close physical contact and carries some risk. This was a concern early on. In March, the World Health Organization recommended the use of contactless payments whenever possible to reduce transmission of the virus via cash.
While there isn’t a ton of evidence that cash and traditional cards are a potential threat to spread the virus, many are happy to minimize the risk of infection. To further reduce risk, there are reports of people turning to contactless payments. In fact, one report indicated that 30% of consumers have started using contactless payment methods to minimize the risk of exposure.
If you don’t know, contactless payments include chip cards that allow you to tap and go, rather than a swipe or, in the case of EMV, dip your card. Contactless also includes NFC payments with your smartphone using apps such as Apple Pay and Google Pay.
Despite speed, security and convenience benefits of contactless payments, U.S. adoption lags behind the rest of the world. Now, with the spread of the coronavirus, is the appetite for contactless in the U.S. finally here? Are merchants equipped to handle contactless payments? What steps can software developers take to enable their merchants?
To answer these questions and more, we’re talking today with PJ Tierney, Vice President - Integrated Payments for EVO Payments.
28 min