WATCH: How Covid-19 is driving contactless payments

The coronavirus pandemic represents a turning point for the payments industry with those companies that have invested heavily in digital and mobile technologies are thriving.

The World Health Organisation has warned that banknotes may spread the coronavirus and recommends using contactless payments where possible. It is unlikely that it will end the use of cash everywhere, of course, but it may be enough to push many markets towards a new cashless paradigm.

Business Day TV’s Michael Avery talks to Karen Nadasen, CEO of PayU; Mike Shussler, chief economist at Economists.co.za; Katlego Maphai, co-founder and CEO of Yoco; and Leonard Shenker, joint CEO of walletDoc, about how the pandemic is driving adoption of contactless payments in a major way.