The Rise Of Contactless Payments And Social Commerce

Rise Of Contactless Payments, Social Commerce

Small to medium-sized businesses (SMBs) are looking into many measures to reopen safely without putting shoppers at risk, like adopting mobile wallets and other forms of contactless payments. And a number of shoppers are loading their debit card information into ordering apps and mobile wallets, while social commerce could be a retail driver to reckon with in Q4. All this, Today in Data.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Data:

    $89.4B: Estimated value of the global market for social commerce in 2020.

    80M: Number of U.S. users on the TikTok social platform.

    71.7%: Portion of SMBs that have improved their digital capabilities amid the pandemic.

    40.3%: Share of seniors and baby boomers who have turned to eCommerce instead of in-store shopping.

    18%: YOY increase in the value of debit card payments between June 29 and July 5.