Chandigarh Sept.15, 2020: Usage of digital banking and contactless payments has surged during the COVID-19 pandemic as Indian consumers are opting for digital and contact-free payment experiences instead of using cash.

“The payments landscape is witnessing a disruptive change, and consumer penchants have moved more voraciously toward contactless payments while offering new opportunities for innovation and growth,” said Mr. Mahesh Ramamoorthy, Managing Director at FIS.

“What’s more, this survey shows that these new habits are likely permanent and will continue in the post-pandemic world. For financial institutions and merchants that serve these consumers, it’s imperative that they understand these trends and create products and services that cater to the changing needs of their customers.”