Contactless Payment Options Continue To Gain Acceptance, Spurred by Necessity

What's Inside

Since the outbreak of the coronavirus, many businesses have ceased accepting cash as payment in order to minimize contact and thus reduce the risk of spreading the virus. We discuss recent developments in mobile payment technologies, the adoption of which is being driven by changing consumer expectations in the current environment.

We consider the rise of contactless payments globally, before discussing the following:

• China’s Digital Currency Electronic Payment pilot program
• Facebook’s Libra cryptocurrency project
• The Venmo mobile payment system, with increased limits and functionality
• The introduction of facial recognition as a payment method in Asia
• Wirecard’s team-up with Stampay to offer contactless payment options

Click here to read more about new payment technologies.

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