Covid 19 has already claimed thousands of lives in the most severe pandemic in recent memory. The virus has already seriously affected all aspects of the economy, with trillions of dollars already lost globally. It’s also changing the way people shop as societies across the globe move away from using cash and toward online payments.

According to numerous media reports recently, the pandemic has already had a substantial psychological effect on consumers who are increasingly thinking of cash as unclean and a potential virus spreader. As such, there’s more and more talk about contactless and online payments, which analysts project will rapidly become the new favored payment method for most people around the world.

Cashless societies

As the number of people infected with Covid 19 skyrockets across Europe, Southeast Asia, and particularly the USA, people are understandably panicked about many things, from unemployment to collapsing healthcare systems. Companies are trying to encourage people not to use cash at all and to opt for online and mobile payments for the foreseeable future. This includes alternative payment methods, which are already popular in emerging markets such as Southeast Asia.

Chinese banks

Meanwhile, in China, where the pandemic emerged from, banks were ordered to disinfect cash before issuing it into general circulation. It remains unclear due to the repressive communist government in China exactly how many people have perished from Covid 19 to date; ‘official’ estimates stand at around 3,500 deaths in the Wuhan region, but experts believe that number could be much higher. This means that it’s likely that China and other Southeast Asian nations will become almost entirely cashless before long, relying on robust and reliable payment providers for goods and services.

Mobile future

While in the states, most people rely on credit or debit cards, in China, more than 80% of consumers utilized mobile payments for products in 2019, with that number at just 10% in the USA. Even though a severe global recession is a foregone conclusion at this stage, there’s little doubt that people across the world will increasingly look to mobile payments for their purchases. For that, a payment processor who can handle large volumes, even during a crisis, is what you need.

Quarantine shopping

While some people are ordered into quarantine, others who suspect they may have Covid 19 are putting themselves into self-quarantine to reduce the spread of the virus. PayPal, Zelle, and other online payment services have seen an increase recently, and digital payments in India have soared in recent years as global trends lean more and more towards online payments. Zotapay (Zota) has also seen an increase in online payments in recent weeks, and despite unemployment and the strain on finances, there are always vital and basic products and services that people need.  

Choosing Zotapay (Zota)

The entire Zotapay (Zota) team has been through emergency training to ensure vital new protocols and procedures across our payment operations. Despite the pandemic, for many Zotapay (Zota) clients, it’s ‘business as usual’ for the most part, as online orders spike due to various lockdowns. This means that our clients are only experiencing minor inconveniences despite the situation. 

With Zotapay (Zota), you can receive payments through our proprietary online gateway, utilizing the latest in API plug-in technology, including:

  • More than 1000 global payments solutions
  • The ability to process any currency worldwide
  • Settlements in local currencies
  • Proprietary gateway hub
  • Tailor-made payment processing
  • Around-the-clock customer support
  • No delays or issues with settlements
  • Daily monitoring, with the ability to be flexible

For more information and for fast onboarding, get in touch with our dedicated team!