Neobank Upgrade today debuted two product launches for contactless payment that were initially slated for fall release, prompted by the COVID-19 crisis and social distancing measures.

Upgrade customers can now order a credit card with a chip that enables contactless transactions, said Renaud Laplanche, co-founder and CEO of Upgrade. Customers can hover their cards over a chip reader without inserting them, he said. Upgrade is shipping out new contactless cards across the country for those who order them, free of charge.

Upgrade also integrated with mobile wallet providers Apply Pay and Google Pay, so customers can similarly make purchases via their smartphones.

“Now, we’re in a scenario where we are trying to limit as much as possible any contact both between the customer and cashier, and even between customer and terminal. The contactless card is a good way to do that,” said Laplanche, who also co-founded LendingClub.

Upgrade, which launched in 2017, is on track to issue $1 billion in originations this year based on the company’s run rate forecast, which “is ahead of target,” Laplanche added. Upgrade’s most recently launched product is the Upgrade card, which turns customers’ monthly payments into installment loans with APRs starting at 6.49%.

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Upgrade earns revenue by charging late fees, collecting interest and from its marketplace, which sells consolidated loans back to banks. The San Francisco-based company has extended $2.5 billion in issued loans and personal lines of credit are issued by Cross River Bank, while credit cards are issued by Sutton Bank.

As banks shift to digital servicing and payments channels amid the pandemic, e financial services and technology industry leaders believe there will be lasting impacts to the way institutions service and acquire customers. In a recent survey conducted by accelerator INV Fintech of more than 100 industry participants, 92% of respondents agreed the pandemic will drive increasing demand for digital channels and 78% expect financial institutions to increase spend in innovation and digital transformation in the next few years.

The coronavirus pandemic will likely prompt consumers to stray away from using physical cash, Laplanche said. “Bank notes change hands a lot and are full of germs,” he said, noting that mobile wallets make up less than 5% of all payments in the U.S. “Something like this actually puts a spotlight on the risks of contact and we should go contactless as much as we can.”