Firms are trying to minimize contact with others and shared surfaces to limit the spread of the coronavirus by altering the in-store payment process.
These changes are geared toward limiting potential exposure to the coronavirus, but they could affect how consumers make payments long after the pandemic fades. If merchants stop requiring signatures, the form of verification may never come back, especially since signature transactions are less secure than alternative options like PIN transactions.
Meanwhile, if QR code and contactless payments can offer a faster payment experience than chip-and-PIN transactions with a card, it'll give consumers who start using these payment methods during the pandemic a reason to stick with them once it's over. Combined, it's looking increasingly likely that payment methods and processes that limit contact will prove popular not only during the pandemic but in the years following it as well.
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