The Contactless Catalyst: Managing Costs in a New Payments LandscapeEvent Date: 05.26.2020
Recording now available.
The cost of processing transactions is rising constantly, with U.S. merchants facing some of the highest fees in the world. Continuously, we see new fees introduced and existing fees increased – but with the COVID-19 pandemic set to permanently change the way customers choose to pay, merchants could see costs rise even further.
In recent weeks, contactless payments have seen a huge uptake. Despite struggling to gain critical mass in the U.S. for many years, the need to minimize contact and avoid spreading the virus has resulted in a reported increase to contactless transactions of over 40%.
While delivering a number of opportunities and benefits to both merchants and consumers alike, the rise of contactless also carries a number of complexities. Not only is routing far less flexible for contactless and in-store mobile transactions, but the cannibalization of cash will inevitably lead to higher relative costs.
In our upcoming webinar, our experts will explore how the payments mix is likely to change in a post-pandemic world – and what that means for your costs. With a virtual panel of payments experts, we’ll be delivering practical tips for managing your costs in the short-, medium- and long-term.
We will explore these topics in the webinar:
- How has the pandemic changed the payments mix?
- What factors impact your cost of processing payments?
- Consumer spending channel by channel – what’s more expensive?
- How will increased contactless volume impact you?
- What new payment methods do we expect to see?