Shopping habits are constantly changing. However, the current pandemic has dramatically advanced the pace of change consumers and companies are used to seeing. Public health concerns of touching cash and cards have paved the way for the way businesses are accepting payment. Based on these changes’ businesses are embracing omnichannel payment solutions. Reduced use of cash, contactless payments, and curbside pickup are all examples of these payment solutions. In fact, Mastercard saw a 40% jump in contactless payments. Make sure to consult the infographic below for more examples of changing payment trends as well as a few graphs comparing where spending has decreased in different industries.
Infographic created by Fiserv