As Contactless Payment Soars in Retail, So Does its Vulnerabilities

The current global environment has made contactless payment more popular and necessary than ever before. While over the past few years we’ve seen the rise of contactless payment methods such as NFC or ultrasonic technology, today is arguably the most crucial point for its mass adoption.

A recent study from Mastercard found that nearly eight in 10 consumers say they have used contactless payment options in response to the COVID-19 pandemic. The numbers are backed by proof. Many businesses today have adapted well to the COVID-19 world and are providing unique, creative ways for customers to purchase items.

In March, Walmart announced a no-contact service for payment, pick-up, and delivery in an attempt to protect its customers and employees. Through QR code scanning via the company’s app, in-store shoppers can make contactless purchases. In addition, Walmart customers can also open their trunks and have an employee load their groceries without the need for a signature. Another great example is Sam’s Club’s use of contactless technology to allow customers to pay from their phones, skipping the checkout line completely. Much to the customer and company’s benefit, Scan & Go usage has increased for Sam’s Club fourfold since the start of the pandemic…  TotalRetailer

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