The momentum behind adoption has been given an additional boost as COVID-19 has quickly become a disruptor across the payments landscape and caused a sharp acceleration in the use of contactless payment methods.
In the past month, 50% of U.S. consumers reported using contactless payment methods at least four times, with 69% agreeing contactless payments were more convenient than cash.
60% of U.S. consumers said using contactless during the pandemic has made them more comfortable with the idea of using the payment method in the future, which is a sentiment with the potential to trigger a domino effect for contactless adoption in the U.S.
Combine this mobile wallet use with the rise in other contactless methods, and we may find consumers even refuse to shop where contactless payments aren’t accepted in the future, not just because of public health concerns but new preferences.