NEW YORK—The coronavirus pandemic is taking a heavy toll on the economy, but it may contribute to a boost for electronic payment companies, particularly Visa and Mastercard.
With a huge shift away from in-person shopping and a surge in online shopping, transactions taking place through their payment rails can be expected to see a short-term boost, Alpha said.
“Additionally, this pandemic may lead countries to rethink the need for cash and place a heavier emphasis on a transition to digital and card payments as more sanitary,” Alpha said.