Who Benefits from the Surging Interest in Contactless Payments?

More than half (51%) of Americans are now using some form of contactless payment. Consumers are most likely to use contactless cards for buying essentials at grocery stores and pharmacies, where 50% of consumers say they worry about the cleanliness of signature touchpads.

Consumers in the U.S. have historically been slower to adopt contactless payments, and that’s something that is tied to a lack of merchant adoption, says Rob Fagnani, vice president of strategy at Formation.ai.

Contactless Commerce Is Suddenly Mission-Critical in Every Retail Category

The phrase “by any means necessary” is fast becoming retail’s new mantra. The same industry that is typically viewed as cautious and conservative is moving really quickly. More quickly than I have seen in my 35 years in the industry. And where is the industry moving most quickly? Toward something we now call “contactless commerce.”

Shoppers around the world are afraid. They’re guarded, and they are wary of any contact with any strangers. They don’t want you to come near them. In response, retailers in every category are absolutely scrambling to remove human contact from the shopping journey.