As Cash Discomfort Grows, Fattmerchant Adds Contactless Payment Options | Payments Source

Backed by its consumer survey acknowledging a significant shift in payment preferences towards contactless options since the COVID-19 pandemic, fat dealer launches software to quickly add contactless payment acceptance for its merchants.

Almost half of those surveyed said they were not comfortable shopping at stores that did not offer a contactless payment option, while 55% said they would. likely their purchases from companies offering contactless options in the future.

Fattmerchant, based in Orlando, Florida, added Contactless by Omni to its integrated payment platform to respond to these trends, adding the ability to create a one-click online shopping cart, adding Text 2 Pay , contactless mobile and countertop terminals, a virtual portal for phone order entry, email invoicing and multi-channel payment data reporting.

“The pandemic is serving as a catalyst for contactless payments, because after COVID-19, businesses that don’t offer contactless options will not survive,” Suneera MadhaniCEO and founder of integrated payments provider Fattmerchant, said in a press release on Tuesday.

The survey of over 350 consumers found that 41% now said they were uncomfortable using cash for payments.

“The increased demand for contactless payments is here to stay, but so many small businesses don’t have the resources to accept them,” Madhani added. “Contactless by Omni makes it easy for businesses in all industries to use contactless payments and adapt to changing consumer needs.”

Consumer preference for cash or credit cards when paying in person, at just over 60%, was slightly higher than debit cards at around 59%. Credit cards were preferred for online payments at almost 60%, while debit cards were at 50% and Apple Pay at 11%.

Nearly 40% of consumers said they preferred to shop in-store before the COVID-19 pandemic, compared to 32% preferring online and 27% saying they had no preference.

When it comes to how the pandemic has changed their thinking about shopping, nearly 57% said they would be more likely to shop online, while 34% said the pandemic would not change. their way of shopping.

Nearly 42% said the pandemic had made them uncomfortable using cash, while in a separate question, 48% said the pandemic had made them uncomfortable doing so. purchases from stores that did not offer contactless options.

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