Question of the Day: What percent of Americans used contactless payments during the Covid-19 pandemic in 2020?
Answer: Over half! [51%]
- Have you used your mobile phone to make contactless payments at stores this year? Why or why not?
- Digital wallet transactions account for over 10% of global digital transactions. What do you think that figure will be in 10 years? Why?
- Recent research suggests that those using digital wallets often exhibit riskier financial behavior. Why do you think this is the case?
Behind the numbers (CNBC):
"Contactless payments were already on the rise in the U.S., but the ongoing coronavirus pandemic has hiked up the number of Americans using various touch-free payment methods.
In fact, more than half (51%) of Americans are now using some form of contactless payment, which includes tap-to-go credit cards and mobile wallets like Apple Pay, according to Mastercard Contactless Consumer Polling.
Check out our FinCap Friday: Tappity-Tap to learn more about this mobile payments trend.
About the Author
After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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