Cash was already seeing swindling use as more and more people transition to contactless payment solutions. The COVID-19 pandemic, however, has intensified the movement towards a cashless economy, backed by e-commerce growth and reasonable concerns regarding the handling of paper currency. In official advice to retail staff in response to the pandemic, the Centers for Disease Control and Prevention promoted the use, where appropriate, of touchless payment alternatives.
As a consumer-driven phenomenon, the electronic-transfer industry has hailed the development of a cashless economy and expects it to continue as the nation adapts to the pandemic. According to a survey, close to percent of business owners reported an increase in contactless payments at the end of March. While cash will certainly have its place for numerous years to come, its diminishing market share as a payment tool seems persistent, powered by a younger demographic that is more at ease carrying no money and paying for anything on their smartphones or watches with digital wallets.
One Payment provides a host of integration solutions including support for modern contactless payments like Google Pay, Samsung Pay, and Apple Pay.
One Payment provides businesses is an all-in-one payment processing provider offering small businesses a mobile merchant account capable of handling mobile credit card processing. In addition to improving cost efficiency and ease of use, the mobile credit card processing solutions from One Payment will ensure that the company retains a strong competitive advantage in an increasingly competitive market. For more information on our credit card processing services, please call 855-609-7050.
