There has been a significant surge in contactless payments for everyday purchases since the onset of COVID-19, according to a new study. The Mastercard global consumer study conducted from April 10 to 12 says that in Canada, 76 per cent of consumers say contactless payments are now their preferred way to pay when making in-store…

US-based payments processor Nets has released

THE limit for in-store card transactions by contactless-enabled cards is to increase soon.

The coronavirus has been a catalyst for big changes in the way consumers spend and pay.Ongoing trends like contactless payments and buy now, pay later are accelerating.New trends are emerging, like consumers' preference toward buy online, pick up in-store.Here's how banks, credit card companies, fintechs, and investors are thinking about the new norms in how we shop and pay.Click here for more BI Prime stories.From banks to credit card companies to retailers, the coronavirus pandemic has impacted virtually every player in the payments industry.Ongoing trends, like buy now, pay later and contactless payments, have been accelerated. And new norms in the way we shop, like buy online, pick up in-store, are emerging.We've spoken with execs across the payments ecosystem to understand what's changing,

Top fintech companies are, therefore, rushing to tap into this new consumer trend, with several of them offering digital solutions to small merchants. These range from instant loans to digital billing to even geotagging, as companies believe the merchant digitisation business will boom when the lockdown eases.