The New Normal II: Reopening

Things are changing (again). As many of us slowly emerge from our home-offices and businesses, shops and restaurants reopen, I have to ask myself: will our shopping habits revert to pre-lockdown? 

The lockdown was responsible for an enforced migration to online shopping. From where we began - outfitting our home offices in preparation for a long-term period of isolation - to now, our once out-of-the-ordinary spending habits have evolved into "normal" purchasing patterns. What used to be a weekend shopping trip in March is a weekday package delivery in August. 

Some will be desperate to get back into a physical shop to do their buying, while others (like myself) will continue doing all of their shopping online - and of course still those who will do a bit of both. It is too soon to tell how the battle between card present and card not present will end, but I think we can confidently say that our spending habits will never be the same again.  

The future of payments is inherently linked to how the pandemic plays out. It's already had a massive impact and as we keep a watchful eye out for a possible second wave, we should also be looking to ensure that we inform the direction payments are heading with strong collaboration and openness.  

With cash losing out to contactless payments in a big way, it's difficult to see it lasting beyond the next few generations. Even physical card's days are numbered, as we turn further towards our devices. We aren't quite there yet and technology will need to improve so we aren’t left high and dry whilst trying to purchase our new inflatable hot tub because our phone's battery has died, but the adoption that has been seen during lockdown has proved how appealing it can be. 

Now what can acquirers do to support their merchants in moving in this direction? 

• Work closely with Issuers to ensure consumers feel safe using new technologies. Unless older generations trust their devices will improve their experience and make it safe, they won't use it. 
• Educate merchants and offer training to conquer the "fear of the unknown". Help them understand the benefits of new technology and assist with the "heavy lifting" of implementation.  
• Inform tech companies of what is needed to increase adoption. New products and solutions aren't going to get traction if nobody wants them or can't see their benefit. 

Covid has changed so many different things in our world, but when you think about it, isn't that actually normal? Change after all, is the only constant and we're always going to be adjusting and readjusting - the key is to do it in such a way that we keep improving the way we do things.