The way we go about our day-to-day life has greatly changed due to the COVID-19 pandemic. According to a recent survey conducted by J.D. Power, fifteen percent of those who participated stated that they will lessen or even avoid the use of electronic payment systems such as that of public touch screens like that of self-service checkouts and ATMs due to their concerns about the contracting the coronavirus. Ten percent of the respondents said that they will go to the bank less often.
Addressing the concerns
To curb the spread of the coronavirus, consumers are using digital methods of payment instead of handling cash. Using online payment services eliminates the need of having to touch the banknotes and coins. It is not possible to get the cash without being within reaching distance to another person as it will be typically handed over. Using these contactless methods of payments also addresses the issue of social distancing when going to the grocery and doing other necessary tasks such as buying medicine.
Cash is fast being seen a dirty as it may carry more than the fingerprints of those that recently held it. There are more consumers that are being cautious because money might carry a virus. The methods of cleaning money that includes steaming it or accepting money with gloved hands make many prefer to transact using contactless methods.
One of the four most popular ways to pay
Though cash is not the most preferred method of payment of US consumers, it is still used often. Paying in cash is one of the four most often used transaction methods. For millions of people all over the world, it is not possible to touch banknotes and coins at all, as there is often no alternative form of payment.
Keep those hands clean
After making an ATM withdrawal or accepting a wad of cash, care should be taken to keep the hands clean as the money might have the virus. When handling cash, the mode of prevention from getting ill because of the Coronavirus is to wash the hands. It is also possible to clean the hands using alcohol or sanitizers.
Curbing the spread
Though the main cause of the spread of COVID-19 is through droplets that are released into the air whenever someone who gotten infected sneezes, it also may be contracted when we touch surfaces like that of coins and banknotes. It is not the main way that the coronavirus can spread but it is possible to get infected that way. The central bank of China made efforts to disinfect their banknotes and coins and got rid of the ones that could be infected but many other countries in the world, such as the US, have not done so.
Using online payments
To make adjustments, many people are using mobile devices to make online payments for obtaining their groceries and doing other financial transactions. There is a great reduction in stress and also a reduction in the effects of the disruption activities when people make a choice to use online payment services.