Contactless Transactions in the Age of Pandemic Today

It’s hard to imagine shopping without a bank card, and using your phone to pay has become the norm. In the age of pandemonium, the trend of turning away from cash and opting for cashless transactions has greatly accelerated. Back in early 2020, there were reports from China that paper money could be one potential source of infection. The Chinese government has ordered all local banks to sanitize and even destroy banknotes. Governments in other countries have not taken such radical steps, but have introduced recommendations to reduce cash payments in favour of cards. The limits for payments without entering a PIN number have been increased.

These facilities have contributed to the spread of cashless payments. According to research commissioned by ACI Worldwide in the UK, since these changes were introduced, up to 80% of Brits were more likely to choose contactless card payments and 24% used virtual wallets. Such a virtual wallet is the Cube app. Its system of operation is very simple. With the Cube app, you can pay for purchases, collect e-receipts and earn loyalty points with a single scan of the app. You can also make in-app purchases. The security of transactions is guaranteed by Blockchain technology.

Cashless payments have been steadily gaining new supporters for several years. The move away from cash has become inevitable as a result of recent events. Cashless payments are safe, reduce contact with others, and cut down on shopping time.