Schlagwort-Archive: googlepay

Corona could bolster Wirecard, GooglePay and other cashless pay systems

Corona could bring corporations which provide cashless payment much advantages. Many people have creditcards or mastercards which they normally still don‘t use, specially the older generation pays cash. The corona pandemy could change this. People who use money are more at risk to get infected with the deadly COVID-19 virus. People who are older than 60 are susceptive to get infected with COVID 19. And retailers try to influence their customers to use cashless payment because they guard their personal that way. So many change their behavior. In Germany the payment with Girocard is more than 50% contactless as it was 35% before the pandemic.

And as many shops are closed the online-shops are flourishing. This is an advantage for all those corporations which are servicing payments like Wirecard, American Express, Mastercard or PayPal and Skrill.

Also the near field communications sector will take advantage of the pandemic situation. Companies like NXP, which is specialised in near field technology, and GooglePay or ApplePay could spearhead their contactless payment systems. Many people who don‘t use these payment systems normally change their behavior because  they are afraid of the virus. The pandemic could be a breach through the wall for those systems and bolster up the assetts.