Belgians are shifting to contactless and online payments amid the pandemic
Growing unemployment rate in Belgium to affect payments. Source: unsplash.com
GlobalData found that the coronacrisis has caused large-scale unemployment in Belgium. The report expects it to result in declining consumer disposable income and expenditure.
As of the end of April 2020, about nearly 98,000 workers in Brussels have applied for temporary unemployment.
According to a statement, cash payments across the country are set to decline, compared to contactless and online payments.
The study also highlighted that such mobile wallets as Apple Pay and Payconiq are expected to benefit from a growth in contactless payments.
We’ve reported that Contactless payments in Ireland will increase amid COVID-19’s fears
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