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Electronic payment, cards top choice for holiday shoppers

Photo by istock.com

November 27, 2020

Contactless payments are being embraced by consumers this holiday shopping season and the trend will likely continue.

When it comes to in-person purchases, 72% of consumers are going electronic, from traditional credit and debit cards to contactless cards and digital wallets, according to a spending survey conducted by the Strawhecker Group and the Electronic Transactions Association.

When it comes to online purchases, credit and debit cards are the first choice followed by one-click payment options and digital wallets, according to a press release.

More than half, 61%, of those polled plan to continue the payment trend past the holiday season.

"As we're all aware, the COVID-19 pandemic has changed the way most consumers work and live," Jodie Kelley, ETA CEO, said in the release. "Fear of exposure to the virus has led businesses to expand their digital offerings and consumers to rely increasingly on digital, mobile, and online channels to securely conduct day-to-day activities."

Additional findings include:

• 81% have used 1-click payment methods, with 37% stating they use these services frequently.
• 61% of those who used contactless card payments had a positive impression.

"The COVID outbreak reinforced the already growing trend of online shopping and the general shift from physical to digital payments," Mike Strawhecker, TSG president, said in the release. "It has encouraged experimentation, coaxing consumers to explore different ways to access products and services and accelerating certain behaviors."