How contactless payments are emerging as a way of life for consumers and businesses in Qatar

How contactless payments are emerging as a way of life for consumers and businesses in Qatar

By Dr. Saeeda Jaffar

Contactless payments were a growing trend in Qatar even before the pandemic, thanks to high smartphone penetration and a high proportion of millennials. However, since the pandemic, almost all sectors, from healthcare to finance to education and retail, have had to shift to a digital-first mindset as consumers put COVID-19 safety measures at the top of their agenda. The crisis catapulted digital commerce six years into the future in just a few months, leading contactless and other digital payment options to emerge as more popular alternatives to cash.

Currently, contactless payments account for at least one-third of all face-to-face transactions in nearly 50 countries worldwide. This shows that the way people pay for their everyday purchases has shifted towards greater convenience and touchless technology. Globally, nearly two-thirds (65%) of consumers would prefer to use contactless payments as much or even more than they do now, and only 16% say they would return to their old payment methods after the pandemic.

In the midst of this dramatic shift in consumer habits, small businesses, already hardest hit by the economic downturn due to budget constraints, decreased consumer purchasing power, and lack of crisis preparation have had to make significant