As retailers come to grips with the “new normal” amid the ongoing COVID-19 crisis, many are looking to mobile payments and other “no-touch” alternative payment options for the first time to protect their employees and customers. This trend comes on the heels of WHO guidance in March 2020 that retailers use contactless payments whenever possible to help control the spread of disease.
Of course, prior to the crisis, the use of these technologies was already on the rise thanks to mobile wallets and other digital payment applications. But their required use during the nation’s social distancing and mitigation protocols is expected to have a significant long-term impact on businesses. In fact, according to Accenture, the move to “digital-first” payments may present businesses with unique opportunities that they hadn’t previously considered, from phasing out cash and check payments entirely in favor of digital payment systems to shifting away from brick-and-mortar storefronts to remote and e-commerce presences.