Demand for contactless payments to gain momentum – The Peninsula

Demand for contactless payments to gain momentum – The Peninsula

The popularity of contactless payments, which gained momentum during COVID-19 outbreak, is expected to increase further, according a senior Visa official. He added that Qatar will continue to play an important role in the region’s position as a fintech and digital commerce leader.

“Looking ahead at 2022 and beyond we expect to see continued growth in contactless payments for in-store transactions. We expect the demand for more contactless payments such as mobile point-of-sale (POS), biometrics and Face Pay to gain momentum in 2022,” Dr. Sudheer Nair (pictured), Visa’s Country Manager for Qatar told The Peninsula.

Adapting to the customers’ inclination towards contactless payments, businesses have made changes to their payment infrastructure.

Nair said that during this dramatic shift in consumers’ payment habits, small businesses, already hardest hit by the economic downturn had to make significant changes to meet consumer demands if they were to survive. This included expanding their eCommerce presence and accepting new forms of in-store contactless payments.

“We are seeing consumers in Qatar gravitate towards using contactless and low-touch payment methods. The pandemic has only given consumers more than one compelling reason to adopt contactless payments as almost all sectors, from healthcare to finance to education and retail, have had to shift