As we move towards Recovery Movement Control Order (RMCO), social distancing will be the main focus and one trend that will be most prevalent is the contactless payment in the retail industry. We have observed the proliferation of e-wallets before COVID-19 outbreak, and this only adds on to the choices for consumers to choose from in making contactless payments.
In this new normal, the situation might be different for retailers. With rising options for contactless payments, this means multiple ways of receiving payments for retailers and they require a need to learn and adapt. At the front end, a cashier may be required to learn various ways to collecting payments, whereas at the back-end, the reconciliation of payments could be a messy process. Clearly, there needs to be a better way for retailers to simplify the entire payments and collections journey.