A new report from yStats.com details the global shift away from cash payments at POS Hamburg-based business research company yStats.com’s new report “Global POS Payment Methods 2020 & COVID-19’s Impact,” provides detailed insight into the changes taking place worldwide in point of sale payment practices, including the acceleration of the trend away from cash due to the pandemic. Full report here: https://bit.ly/3iaWD66

1. PRESS RELEASE
Hamburg, September 8th, 2020
A new report from yStats.com details the global shift away from cash
payments at POS
Hamburg-based business research company yStats.com’s new report “Global POS Payment Methods 2020 & COVID-19’s
Impact,” provides detailed insight into the changes taking place worldwide in point of sale payment practices, including the
acceleration of the trend away from cash due to the pandemic.
The spread of COVID-19 speeds the acceptance of alternatives to cash
The COVID-19 health crisis has affected the payment preferences at point of sale for shoppers around the world. A survey cited
in the yStats.com publication indicates that a large double-digit share of consumers worldwide has changed their POS payment practice
because of the pandemic. One of the changes is the avoidance of cash, which is considered by some as a vector of the virus. Contactless
payments are among the preferred alternative methods, also motivated by the pandemic.
Smartphones offer payment options
The use of a mobile device when paying is increasing globally, as the pandemic increases acceptance of the practice. The use of
mobile wallets stored in a smartphone or the QR or barcode reader of the device for payment are among the top trends detailed in the
new yStats.com publication.
The move away from cash is widespread
While there was a general trend toward decreased use of cash before the coronavirus crisis, this event has accelerated the
trend throughout the world. The yStats.com reports provides details on the share of cash and its alternatives in major and developing
economies, including the figure that cash payment accounted for around only a quarter of all retail payments in two advanced markets
of the Asia-Pacific region even before the pandemic. In North America as well as Europe, the health crisis has spurred the movement
away from cash payments.
For further information, see: https://www.ystats.com/market-reports/global-pos-payment-methods-2020-and-covid-19s-impact/
Press Contact:
yStats.com GmbH & Co. KG
Behringstrasse 28a, D-22765 Hamburg
Phone: +49 (0)40 - 39 90 68 50
Fax: +49 (0)40 - 39 90 68 51
E-Mail: press@ystats.com
Internet: www.ystats.com
Twitter: www.twitter.com/ystats
LinkedIn: www.linkedin.com/company/ystats
Facebook: www.facebook.com/ystats
About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and
objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than
100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-
Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street
Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.