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Consumers’ migration to using contactlesspayment methods more often for their speed and convenience was only accelerated during the onset of the pandemic last year. It is easy to see why contactlesspayments are growing in a time of social distancing and touchless safeguards to prevent spreading the virus.
In an interview with Karen Webster, Chuck Fagan, president and CEO of PSCU , a creditunionserviceorganization (CUSO), said that the impact to consumer spending will be prolonged, but the recovery will be swift and sharp — depending on where you look. Overall credit card spend was down 29.9
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