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Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. The COVID-19 pandemic is shaking up shopping behavior. Around The Next-Gen Debit World.
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 The Shift In Payments.
That increased consumer adoption of digital payments will come as merchants continue to turn on their near-field communication (NFC) functionality and point of sale (POS) machines, which can accept those payments.
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