People have suddenly stopped using money — of the bill-and-coin variety — for fear it may spread the virus. Some worried shopkeepers have stopped accepting it, too.
The coronavirus may have changed our buying and payment habits forever. Online shopping is through the roof, and consumers are rushing to get “contactless” credit and debit cards, which are tapped at a merchant terminal rather than inserted or swiped.
The coronavirus has made us scared to touch anything, and there’s a perception that money is dirty and payment terminals carry germs. ATM use is down 32%, according to Visa, and 63% of consumers say they’re using less cash.