Small businesses see rise in contactless payments amid pandemic


Business owners have really adopted and glommed on to this new digital wave that we've all been thrusted into because of the pandemic small business owners like never before have been forced to seek help to digitize their business in various ways to try to accommodate the could their customers and try to survive. Frankly beyond just You know they're. They're the current environment so that they can pay their bills given that the lockdowns of had such a the capacity have had such a big effect of small business owners. There was a recent article published about small businesses that talks about how eighty two percent of small business owners are ready for digital payments and other digital methods of doing business as well. There was a study that was conducted by visa revealed. The eighty two percent of small business owners are shifting toward digital payments in response to the pandemic now. These small businesses are rolling out new forms of in-store contactless payments to meet the covid nineteen weary customers that are demanding their protection when they go to stores at the point of sale. And if you've gone to places like target recently or gone to places. Some big box retailers. Then you probably have seen some of the different methods that these stores have used to try to accommodate customers like putting barrier protections on the keypads of the payment like bacteria prevention or spread prevention bacteria. Microbe free plastic. Wrap things on the show what they're called but on the keys where you can punch in your code. I hope you still use sanitizer. Because those things say claim that they disinfect like all day which. I'm not too sure about not exactly sure how that works. But but anyways. Contactless payments in digitizing payments in digitizing business transactions is a big thing at the moment a small businesses or hopping onto you know and honestly there's some evidence that has shown that there are a lot of some big reasons. Why small business owners like yourself. Listening to this podcast. You consider this. The eighty two percent increase of small businesses using contactless payments was up according to the study from twenty percent in june. So now it's well. We're february i now january's over so you honestly at this sixty. Two percent increase in june is massive. It's absolutely massive and it. It absolutely shows no signs of slowing down in the new year since the pandemic small businesses have shifted in general digitizing their operation so if in the fitness industry which i know well of course because i have a stake in the fitness industry. Fitness companies have digitized their offerings. Of course everyone knows about some of the massive at home fitness companies. Like peleton have done. Really well and digitizing their brand and capitalizing on that digitize. They should of their brand and even with boutique studios fifty offered virtual studio classes to the members so that their members could have their workout still at home despite being off down and not able to come in so there have been a demonstration across the board in the us of many opportunities as small business. Owners have taken to digitize their small business and this includes at this point contactless payments. And if you're listening to this podcast. He don't contactless payment is think apple apple pay or amazon. Pay or pay pal. Basically you put your credit card into your smartphone and the wallet of your smartphone. When you get to the register you punch in your code or use your face. Ide- your fingerprint recognition and you are able to charge whatever you pay your buying at the register with your phone you just kinda hover it over the the payment system and it automatically takes your payment. So that's the contactless digitalization of payments that we're talking about.

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