The shift toward touchless payments is dramatic, with 8x more earnings calls mentions vs. last year. Here are the top-line bullets you need to know.
Contactless payments have seen skyrocketing executive attention as Covid-19 makes no-touch checkout options top-of-mind for consumers.
Download The State of Retail Tech Q3’22 Report
What you need to know:
- Contactless payments initiatives spread: Executive discussion regarding contactless checkout and payment options hit new heights in Q3’20, with companies from Dollar General and Tractor Supply Co. to Yum! Brands discussing their launches in the space. Companies like Square and Mastercard also highlighted customers’ increased aversion to cash amid the pandemic.
- Increased digital payments translate to increased data on consumer behavior: This step-change in availability of and interest in contactless digital checkout options may transform how retailers and brands track consumer spending behavior and campaign attribution, particularly in non-traditional channels that fall outside of established panel data, like retail specialists and foodservice.
- We’ve mapped the retail checkout landscape: To learn more about retail checkout tech companies, clients may reference this market map for a survey of the landscape, or review this contactless checkout vendor report for an in-depth analysis of these providers. We also profiled big tech’s recent moves in payments here.