Consumer Behavior

COVID-19 is driving online, mobile payment adoption

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July 20, 2020

The ongoing coronavirus pandemic is driving big adoption of mobile and online payments by consumers, according to a DaVinci Payments national study of consumer payment behavior since COVID-19 came into play.

The trend to use digital and virtual payments will continue during the upcoming holiday shopping season, according to a press release on the study.

"Traditional payment methods like credit, debit and prepaid cards are as popular as ever, but swiping physical cards themselves is giving way to new form factors like mobile wallets, apps and contactless payments," stated the release.

Ninety-five percent of those polled are using connected devices and 85% have smartphone apps for making payments.

Additional findings include:

• 71% of respondents expect to do more than 50% of their 2020 holiday shopping online.
• 65% of all respondents are currently doing more than half of their shopping online.
• 57% do more than half of their online shopping via their mobile device.
• 43% of all shopping is intended to be online for the holiday 2020 shopping season.
• 36% of all shopping is online during COVID shelter-in-place, more than 2X where it was in 2019.
• 38% of all online payments are on mobile devices.