Coronavirus crisis sparks payments change in the UK

54% of UK consumers have used new forms of payments since the coronavirus outbreak began, according to research by Paysafe.

The company surveyed 8,000 people globally. It also found that 84% were now thinking differently about how they make payments, whilst 21% have tried online shopping for the first time.

63% of UK consumers said they will be using contactless payment technology more in the short-term due to health and safety concerns, and 61% are happier with contactless now than they were last year. Just 28% are currently using cash.

Daniel Kornitzer, Chief Business Development Officer at Paysafe, comments: “Consumers are already adapting to challenges in purchasing and getting to grips with alternative payment methods.”

“Both payment providers and retailers must adapt in line with the demands of consumers and the requirements of the situation. Ultimately, the change and improvements we make to digital commerce throughout this pandemic will pave the way for the future of both digital and in-store payments.”