COVID-19 Pushes Contactless Payment Application And Development
ABI Research estimates that COVID-19 will accelerate contactless payment card application. More than 110 million cards are expected to be issued in 2020, making the total number of contactless payment cards in international circulation up to 2 billion. More than 65% of payment cards issued in 2020 supports contactless function, the growth might be the result of the COVID-19, ABI said. As contactless payment is more hygienic than cash and relieve demand on physical contact with payment terminals, people present more interest at it. Contactless payment means that customer need not pay by cash or insert his credit or debit card into the payment device. As long as he put his payment side close to the reading device, the transaction can be completed. Besides contactless card, there are other contactless payment methods emerge in the market in an attempt to reduce potential virus spread through human contact, including QR code payment, face payment and voice payment. Based on the ...