Sep 07, 2020

Question of the Day: What percent of consumers will only shop at stores that offer a contactlesss ("tap to pay") payment option?

Answer: 52%


  • Would you only shop at stores that offer a contactless payment option? 
  • After COVID-19, do you think your payment behaviors will change and you will be more comfortable with cash and credit/debit card readers? 
  • What are some concerns you might have about a cashless society? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. 

Behind the numbers (VISA study): 

Your money or your health? In a world previously driven by price, shoppers are now putting COVID-19 safety measures at the top of their shopping lists and they will reward stores that do the same. For many shoppers, a store that doesn’t have a contactless payment method is a store that doesn’t get their money...This shift to digital-first commerce and technologies like contactless payments has ushered in a new generation of consumer tendencies that will have a ripple effect on the global economy for years to come.


FinCap Friday has an episode "Tappity-Tap" explaining this trend toward contactless payments. 


Check out our FinCap Friday library for over 80 current event explainer videos! 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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