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These pandemic times we are going through have shaken reality as we knew it. Now, the famous Darwinian phrase ‘adapt or die’ becomes more essential than ever. The changes imposed by Covid-19 have not only modified the ways in which we used to relate and interact, but have also altered the way in which we consume, introducing new ways of contactless payments. This is something positive that hotels and events can benefit from, since the new social and economic situation has undoubtedly redefined habits and payment methods motivated by the change in consumer behavior.

Cash payments are decreasing

It is true that prior to the start of this health crisis, cash payments had decreased significantly, but it has been in the last year that new methods have gained momentum due to the need for this ‘zero contact’. Examples of this are sectors such as leisure or hotels. And it is now easier than ever to make purchases of services or products through contactless payment methods during a client’s stay at a hotel, a festival or a sporting event.

Contactless technology has helped to simplify the payment process during this pandemic, providing more confidence and security, so in this sense, Covid-19 has accelerated a digitization trend that has already come a long way, as is the case of contactless payments. And it is not surprising, since being able to carry out these operations through different devices (such as mobile or NFC devices) or through systems that are making their way into different sectors (such as virtual reality or contactless biometrics) has numerous advantages. , both for consumers and for hotels and companies in the leisure sector.

What benefit does contactless payments offer?

  • Comfort and speed: The popularity of payments through electronic devices, such as smartphones, e-wallets or NFC wireless technology on wearables, provide greater agility in operations. Thanks mainly to the fact that it allows faster and more convenient payments, this technology has developed its growth potential in recent years, incorporating new elements beyond the physical card, such as bracelets, watches, stickers or mobile phones themselves.
  • Safety: This is another of the great advantages of joining the contactless payment. In addition to facilitating the prevention of contagion (which is now more necessary than ever), this technology offers total security in the transaction. In this sense, the previous step to enable payment on connected devices (tokenization) replaces sensitive payment information with a unique digital identifier, which helps increase security and combat fraud.
  • Reduces waiting times: Making payments through an electronic device reduces waiting times and avoids queues or possible crowds. In addition, if the payment is made in a physical establishment, the transaction is much faster and more effective for both the company and the user.
  • Improved customer experience: The new trends in payments also result in an improvement in the customer experience. Thanks to contactless technology, consumers can pay how, when and where they want. In addition, these new payment methods allow the company to know and analyze the consumption habits of its customers to improve their user experience, which translates into increased profitability.

All in all, comfort, efficiency, speed and, above all, security are the fundamental pillars on which the new contactless payment methods in hotels and events are based. Systems that are already part of our day to day life, making our lives easier, and that are here to stay.