FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Touchless payments are here to stay, Amex says

Bianca ChanbyBianca Chan
September 23, 2020
in Payments
Reading Time: 2 mins read
Share on Facebook

The rise in digital and contactless payments among consumers and merchants is likely to stick post-pandemic as preferences shift from cash to tap, according to fresh data from Amex.

For both businesses and consumers, contactless payments are no longer the secondary payment method, according to the Amex 2020 Digital Payments Trendex survey released Monday. Seventy percent of businesses surveyed said customers have requested touchless payments during the pandemic and 73% of merchants said they also prefer customers to pay with a card or app versus cash, according to the survey, which gathered responses from 400 businesses in the U.S. from July 30 to Aug. 7.

With social distancing measures still in place, businesses are looking to contactless payments to improve the health and safety of the checkout area. According to Amex, 84% of businesses say contactless payments are safer for personal health than using cash and swiping or inserting a card. Since the outbreak, 28% of merchants adopted or plan to adopt no-signature and no-pin payments to create a completely touch-free transaction process.

For many businesses, contactless payments will have staying power past the pandemic, with 81% of merchants saying they intend to make contactless payment a permanent option for customers. More than half of businesses surveyed, 52%, had offered touchless payment pre-COVID while 32% of merchants recently adopted or plan to adopt contactless due to the pandemic, the survey said.

In addition to driving a shift to contactless in-person payments, the pandemic has also pushed businesses into the e-commerce space. According to Amex, 41% of respondents said they adopted or plan to adopt new e-commerce solutions for their customers, especially for curbside pickup, in-store pickup and delivery. In fact, S&P Global Market Intelligence anticipates global e-commerce transaction volume this year to increase more than 23% from 2019, according to a recent report.

The 2020 Banking Automation Summit Virtual Experience, taking place November 9-10, is a new event that will provide a platform for industry professionals to share fresh insights, tools, trends and strategies. The Summit will focus on how automation will transform banking, especially with regard to back-office operations, risk management, data science and utilization, customer experience and more. 

Tags: AmExcontactless paymentsdigital paymentsS&P Global Market Intelligence

Related Posts

Photographer: Andrew Harrer/Bloomberg
Payments

Pliant prepares for agentic B2B payments amid U.S. launch

July 17, 2026
(Courtesy/Ramp)
Payments

Ramp launches technology to track AI token spend

July 16, 2026
Load More

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

The Buzz Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

Next Post
Image via Pixabay

Greenlight moves into investing with $215M Series C

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

 [wt_cli_manage_consent]

Connect

twitter linkedin podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account