COVID-19 pandemic has made people very anxious when it comes to transactions with other people. Individuals are wary of debit and credit cards' physical exchange during the pandemic crisis caused by the novel coronavirus.
Dumb Q: how do you face-pay with Applepay at drive throughs (or other payment scenarios where contactless requires closes proximity)? pic.twitter.com/hv23r8u6tx — Michael Wolf (@michaelwolf) September 16, 2017
However, germaphobes were the only ones who were concerned about this before the pandemic began. People are now also worried about the issue since the novel coronavirus could be lurking in the bills they receive.
To avoid further infection, contactless being used in 48 countries. Its increased spending limits show the service's popularity. After COVID-19 became a major global health issue, the average contactless limit was increased to 131%.The United States is also expected to increase its limit, which is currently $100. Other countries who prefer using cash for transactions, such as Germany, are already using the new service.
More than half of Germany's overall purchases are now touchless. These changes show that contactless payments have a high chance of overtaking cash and traditional credit cards after five years.
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Written by: Giuliano de Leon.
