COVID-19对数字支付的长期影响

Back in April when we identified the COVID-19 pandemic as a trend accelerator, one of the developments that we recognized was the uptick in contactless payment usage. Now, a few months later, it is becoming evident that 2020 is an inflection point for digital payment adoption in the U.S.

其他回四月份的时候我们确定了COVID-19大流行的趋势加速 ，那事态发展一个大家公认的是接触式支付使用的上扬。 现在，几个月后，很明显，2020年是美国采用数字支付的拐点

The sustained need for public hygiene at checkout, along with heightened demand for easier ways to shop on mobile, to receive stimulus checks, and to make donations has significantly bolstered core segments of digital payments, such as mobile proximity payments, digital wallets, and peer-to-peer (P2P) payments. While the pandemic will eventually subside, the impact it leaves on payments and banking will be long-lasting.

结帐时对公共卫生的持续需求，以及对在移动设备上购物，接受激励检查以及进行捐赠的更简便方法的强烈需求，大大增强了数字支付的核心部分，例如移动邻近支付，数字钱包和对等点对点(P2P)付款。 尽管大流行最终将消退，但它对支付和银行业的影响将是持久的。

As a result, this accelerated shift in consumer payment behavior will likely further disintermediate consumers from traditional banks and financial service providers, ushering in a more dynamic industry landscape. In response, industry incumbents must quickly adapt to shifting consumer behavior and market reality by rounding out their digital payment ecosystem, both in terms of infrastructure and services.

结果，消费者支付行为的这种加速转变将有可能使消费者与传统银行和金融服务提供商进一步脱节，从而带来更具活力的行业格局。 作为回应，行业老大必须通过完善其在基础设施和服务方面的数字支付生态系统，Swift适应不断变化的消费者行为和市场现实。

全面加速采用 (Accelerated Adoption on All Fronts)

Prior to the COVID-19 outbreaks, digital payments, especially mobile payments, were growing incrementally in the U.S. Despite the earnest efforts of major platform owners and fintech players, the penetration rate of mobile proximity payments among U.S. smartphone users last year was only 29%, according to data from eMarketer, which pales in comparison to the near-ubiquitous 81% penetration rate in China¹, but is ahead of other developed markets such as the UK (19%), France (16%), and Germany (13%). One key reason for this lagging adoption in developing countries was simply inertia: people didn’t bother because there had not been a widely known advantage to using mobile payments over existing non-cash payment methods — until now.

在COVID-19爆发之前，美国的数字支付(尤其是移动支付)正在逐步增长。尽管主要平台所有者和金融科技公司都做出了不懈的努力，但去年美国智能手机用户中的移动近距离支付普及率仅为29％根据eMarketer的数据 ，与中国近乎普及的81％¹相形见pale，但领先于其他发达市场，例如英国(19％)，法国(16％)和德国(13％) )。 发展中国家采用这种方式落后的一个主要原因就是惯性：人们没有打扰，因为到目前为止，使用移动支付相对于现有的非现金支付方法尚无广为人知的优势。

The pandemic has changed how people think about their choice of payment options. Following the initial stay-at-home orders in March, the hygiene concerns over handing over cash or payment cards to a cashier and touching the keypads at grocery store checkouts quickly drove many consumers and retailers to adopt contactless payments. According to a recent study from Forrester Research, retailers reported a 69% increase in contactless transactions since January. Further aided by the rise of online orders, digital payments suddenly became a necessity for many.

大流行改变了人们对付款方式选择的看法。 在3月份首次下达全屋服务订单后，出于卫生方面的考虑，将现金或支付卡交给收银员，以及在杂货店结帐时触摸键盘，这很快促使许多消费者和零售商采用非接触式付款。 根据Forrester Research的最新研究 ，零售商报告自1月份以来非接触交易增加了69％。 随着在线订单的增加，数字支付突然成为许多人的必需品。

According to a yStats report released in June, nearly 50% of global shoppers were using digital payments more than before the pandemic, and the majority plan to continue doing so after the virus is contained. In the U.S., nearly one in five respondents to a J.D. Power survey, cited by eMarketer, said they plan to use mobile payments to make in-store purchases more often due to COVID-19. Digital wallets like Apple Pay and Google Pay, as well as EMV cards issued by major credit card companies², are the top beneficiaries of this behavioral change. As consumers made the switch, many retailers and quick-service restaurants followed suit and encouraged using contactless payments.

根据yStats于6月发布的报告 ，近50％的全球购物者使用数字支付的人数比大流行之前要多，大多数人计划在感染病毒后继续这样做。 在eMarketer引用的美国JD Power调查中，将近五分之一的受访者表示，由于COVID-19，他们计划使用移动支付更频繁地进行店内购买。 Apple Pay和Google Pay等数字钱包以及主要信用卡公司发行的EMV卡²是这种行为改变的最大受益者。 随着消费者的转变，许多零售商和快餐店纷纷效仿，并鼓励使用非接触式支付。

Besides contactless payments, three additional factors also aided the accelerated adoption of other forms of digital payments, although their specific contributions may be harder to pin down quantitatively:

除了非接触式支付，其他三个因素也有助于加速采用其他形式的数字支付，尽管它们的具体贡献可能难以量化：

1. The shift towards online shopping, especially mobile and social commerce, led some to explore digital payment services like PayPal or Apple Pay. The latest data from App Annie shows that mobile commerce boomed during the first six months of 2020, surpassing 2019 holiday shopping levels. Given that most apps and ecommerce sites now integrate with mobile wallets like Apple Pay or Google Pay to create a frictionless checkout experience, it seems safe to assume that at least some mobile shoppers started using mobile payments for a better, more secure shopping experience.

   向在线购物(尤其是移动和社交商务)的转变，导致一些人探索诸如PayPal或Apple Pay的数字支付服务。 App Annie的最新数据显示，移动商务在2020年的前六个月蓬勃发展，超过了2019年的假日购物水平。 鉴于现在大多数应用程序和电子商务网站都与Apple Pay或Google Pay这样的移动钱包集成在一起，以创建无摩擦的结账体验，因此可以安全地假设至少一些移动购物者开始使用移动支付来获得更好，更安全的购物体验。

2. The need for a fast and easy way to receive stimulus checks in April drove some people, especially those who were unbanked or underbanked, to sign up for digital payment services like Paypal, Venmo, or Square’s Cash App, all of which allow users to set up direct deposit within their apps without a bank account, instead of waiting for a physical check to arrive in the mail. Digital bank Chime offered up to $200 cash advances a week ahead of the stimulus payments in the hope of acquiring new users.

   在4月份，需要一种快速便捷的方式来接收刺激检查，这驱使一些人，尤其是那些没有银行账户或银行账户不足的人， 注册了 Paypal，Venmo或Square的Cash App等数字支付服务 ，所有这些都允许用户设置在没有银行帐户的情况下直接在其应用程序中直接存款，而不必等待实际支票送达邮件。 数字银行Chime会在刺激付款之前一周提供高达 200美元的现金透支，以期吸引新用户。

3. The need for an easy way to make and receive online donations for financial hardships caused by COVID-19 or for causes related to the Black Lives Matter movement prompted some late adopters to download P2P payment apps like Venmo and Cash App, the latter of which recently hit 30 million active users in June, which analysts attributed to recent upticks in crowdfunding and donations, as well as its ability to receive the COVID-19 stimulus payments. Similarly. Venmo also posted record performance in transaction volume and reported over 60 million active users in July.

   由于COVID-19造成的财务困难或与“黑死病”运动相关的原因，需要一种简便的方法来进行在线捐款的接收，促使一些后来的使用者下载了诸如Venmo和Cash App之类的P2P支付应用程序，最近后者六月份的活跃用户达到了3000万 ，分析人士将其归因于近期众筹和捐赠的增加，以及其获得COVID-19刺激付款的能力。 同样。 Venmo的交易量也创下新高 ，7月活跃用户超过6000万。

All of these factors dovetailed to facilitate the adoption and usage of mobile proximity payments and mobile wallets, which present new challenges for banks and credit card issuers. For one, it is harder for issuers of new cards to contend with the default card used in digital wallets like Apple Pay. Studies have shown that most people don’t regularly change the default card in their digital and mobile wallets. For another, it further disintermediates banks and credit card issuers from their customers, as most digital payment solutions have started moving up the stack and branching into banking services.

所有这些因素共同促进了移动感应支付和移动钱包的采用和使用，这对银行和信用卡发行人提出了新的挑战。 首先，发行新卡的人很难与Apple Pay等数字钱包中使用的默认卡抗衡。 研究表明 ，大多数人不会定期更改其数字钱包和移动钱包中的默认卡。 另一方面，随着大多数数字支付解决方案已经开始向银行服务的上层发展 ，它进一步使银行和信用卡发行商与客户脱节。

从电子钱包到新银行 (From E-Wallets to Neo-Banks)

Naturally, accelerated adoption of digital payments brings about a correspondingly rapid pace of digital disruption in banking. As mobile payments and fintech apps enjoy their pandemic boost, many are looking to leverage their customer relationships to expand their services. Every digital wallet today is a neo-bank in the making, looking to shake up the financial service industry.

自然，加速采用数字支付方式会相应地加快银行业数字化破坏的步伐。 随着移动支付和金融科技应用程序的流行，许多人希望利用其客户关系来扩展其服务。 如今，每个数字钱包都是新兴的银行，旨在撼动金融服务行业。

For example, Square has already been expanding Cash App’s features beyond simple P2P transfer with things like Cash Card (a debit card), Cash Boost (a rewards program), and Cash App Investing. Last week, it announced it is testing a small, short-term loan service, which will allow select users to apply for loans in a range of $20 to $200, with a payback period of four weeks. Given that the debt holiday is ending soon, plus the current uncertainty about further stimulus plans, it is a smart move for Cash App to branch out and lend help to users in need.

例如，Square已经通过使用Cash Card (借记卡)， Cash Boost (奖励计划)和Cash App Investing等功能，将Cash App的功能扩展到了简单的P2P传输之外。 上周，它宣布正在测试一项小型的短期贷款服务 ，该服务将允许部分用户申请20至200美元的贷款，投资回收期为4周。 鉴于债务假期即将结束 ，加上当前有关进一步刺激计划的不确定性，对于Cash App来说，分支并向有需要的用户提供帮助是明智之举。

Interestingly, in order to receive stimulus checks via Cash App, users need to apply and get approved for a Cash Card first. Similar requirements are also in place for PayPal and Venmo, promoting new users to engage with more than its basic in-app features. The goal, of course, is to entrench deeper in users’ personal finance management with a comprehensive set of services.

有趣的是，为了通过Cash App接收激励检查，用户需要首先申请并获得Cash Card的批准。 贝宝(PayPal)和Venmo 也有类似的要求，从而促进了新用户使用其基本的应用程序内功能以外的功能。 当然，目标是通过一套全面的服务来深化用户的个人财务管理。

Another common objective shared by many fintech services is to eventually level up and build a commerce ecosystem that serves both consumers and merchants. Both PayPal and Square are aiming to serve both sellers and buyers with a mix of business-oriented and consumer-facing products. Square is one of the market leaders in digital POS systems and provides a “one-stop shop” service to its business customers with integrated payroll and banking services, whereas PayPal also sells credit card readers and POS software that primarily serve small businesses.

许多金融科技服务的另一个共同目标是最终升级并建立一个为消费者和商人服务的商业生态系统。 PayPal和Square的目标是通过面向商业和面向消费者的产品为卖方和买方提供服务。 Square是数字POS系统的市场领导者之一，并通过集成的薪资和银行服务为其商业客户提供“一站式”服务，而PayPal还销售主要为小型企业服务的信用卡读取器和POS软件。

Apple also recently got into the vendor side of digital payments by acquiring Mobeewave, a Montreal-based startup whose flagship app can turn iOS devices into NFC-equipped POS terminals. Considering that Apple has a history of acquiring startups and integrating their core capabilities into their own services, it seems safe to assume that one day soon, merchants will be able to use their iPhones to receive contactless payments from others, no tangling credit card reader plugs needed. While this may hurt Square’s business, it would significantly broaden the use case for Apple Pay and build out Apple’s financial service ecosystem underpinned by the Apple Card³.

苹果最近还收购了Mobeewave ，这是一家总部位于蒙特利尔的创业公司， 涉足数字支付领域 。该公司的旗舰应用可以将iOS设备变成配备NFC的POS终端。 考虑到苹果已有收购初创公司并将其核心功能整合到自己的服务中的历史，因此可以安全地假设商家很快将有一天能够使用iPhone接收他人的非接触式付款，而无需纠结信用卡读卡器需要。 虽然这可能会损害Square的业务，但它将大大扩展Apple Pay的用例，并建立以AppleCard³为基础的Apple金融服务生态系统。

Rival smartphone maker Samsung has also been planning to expand its financial service footprint. Its answer to the Apple Card, the Samsung Pay Card, officially launched in the UK on Monday. Powered by London-based fintech Curve, it allows users to consolidate all of their existing bank cards into a single card and digital wallet. Samsung Pay Card users will also get access to other financial management features from Curve, such as instant spend notifications, peer-to-peer payments from any linked bank account, and the ability to switch payment sources retroactively. By partnering with Curve, Samsung is able to build out its banking services overnight by proxy.

竞争对手智能手机制造商三星还计划扩大其金融服务范围。 它对Apple Card，Samsung Pay Card的回答于周一在英国正式推出 。 由位于伦敦的fintech Curve提供技术支持，它使用户可以将所有现有银行卡整合到单个卡和数字钱包中。 三星支付卡用户还可以从Curve中访问其他财务管理功能，例如即时支出通知，来自任何关联银行帐户的对等付款，以及追溯切换付款来源的能力。 通过与Curve合作，三星可以在一夜之间通过代理建立其银行服务。

Together, these latest developments in digital payments point to the growing ambition of digital payment providers. At the beginning of the pandemic, some cited the shut-down of Moven, a U.S.-based digital bank, as an example of market turbulence impacting VC funding and spelling trouble for the cash-burning neobanks. But it turns out that some neo-banks were able to rise to the challenge of increased consumer interest, as market leaders Chime and Current have posted some of their best quarters to date during the pandemic.

总而言之，这些数字支付的最新发展表明了数字支付提供商的雄心壮志。 在大流行开始时，一些人以关闭美国数字银行Moven为例，这是市场动荡影响风险投资和给烧钱的新银行造成麻烦的一个例子。 但事实证明，由于市场领导者Chime和Current在大流行期间发布了迄今为止最好的季度，一些新银行能够应对消费者兴趣增加的挑战。

适应或枯萎 (Adapt or Wither)

Conventional wisdom says it takes about two months to form a new habit, and since the pandemic is unlikely to subside until 2021, U.S. consumers will certainly have longer than two months to become accustomed to digital payments. Given the accelerated shift in payment behavior and fintech disruption, the path forward for the market incumbents is clear: adapt or wither. In response to the impact of COVID-19, banks and credit card companies should consider prioritizing the following three tactics.

传统观点认为，养成新习惯大约需要两个月 ，而且由于这种流行病不太可能在 2021年之前消退 ，因此美国消费者无疑将需要两个多月的时间来习惯数字支付。 鉴于支付行为的加速转变和金融科技的中断，市场老大的前进道路是明确的：适应还是消亡。 为了应对COVID-19的影响，银行和信用卡公司应考虑优先考虑以下三种策略。

1. Ramp up mobile wallet education. It is evident that consumers are warming up to mobile wallets amid the pandemic. According to a Paysafe survey conducted in early April, 50% of US consumers still feel uncomfortable entering financial data to make an online payment, and 44% of U.S. shoppers regarded Apple Pay or Google Pay as “more secure” than bank-issued contactless cards. Therefore, it is increasingly important to educate customers about how to set up mobile wallets and streamline credential-sharing to ensure an easy onboarding process. Informational campaigns with simplified tutorials may be helpful in getting more people acquainted with mobile payments and occupy the default payment card position. Brands should also do their part in promoting the mobile payment options they support to raise customer awareness.

   加强手机钱包教育。 很明显，在大流行中，消费者正在为手机钱包做准备。 根据4月初进行的Paysafe调查 ，美国50％的消费者仍然对输入财务数据进行在线支付感到不舒服，并且44％的美国购物者认为Apple Pay或Google Pay比银行发行的非接触式“安全性更高” 。 因此，对客户进行有关如何设置手机钱包和简化凭证共享以确保轻松的入职流程的教育变得越来越重要。 具有简化教程的信息宣传活动可能有助于使更多的人熟悉移动支付并占据默认的支付卡位置。 品牌还应该在推广他们支持的移动支付选项以提高客户知名度方面发挥作用。

2. Strive to be the default payment option with targeted rewards. As previously mentioned, most people don’t regularly change the default card in their digital wallets, thus suppressing the usage of newer cards. In this regard, rewards designed to influence the choice of primary card in mobile wallets could be helpful. Chase, for instance, has utilized wallet-specific rewards, offering cashback for purchases made through PayPal and Apple Pay in promotional campaigns for its credit cards.

   力争成为具有针对性奖励的默认付款方式。 如前所述，大多数人不会定期更改其数字钱包中的默认卡，从而抑制了使用新卡的可能性。 在这方面，旨在影响手机钱包主卡选择的奖励可能会有所帮助。 例如，大通银行利用了针对钱包的奖励，为通过信用卡促销活动中的PayPal和Apple Pay进行的购买提供现金返还。

3. Build out a digital service ecosystem that supports vendors. As vendors, especially small businesses, start to realize the need for adopting a modern POS solution to accommodate changing shopper behavior, those businesses will likely gravitate towards payment solutions that handle both online and in-store payments, like Square and Stripe, as they’ll allow merchants to accept the same wallets across channels. Still, there is a real opportunity for incumbents to fight off the aforementioned fintech challengers with a smart M&A strategy. For example, American Express recently announced it is acquiring digital lending platform Kabbage to bolster its cash management offering to small businesses.

   建立支持供应商的数字服务生态系统 。 随着供应商(特别是小型企业)开始意识到采用现代POS解决方案以适应不断变化的购物者行为的需求，这些企业可能会倾向于使用既可处理在线支付又可用于店内支付的支付解决方案，例如Square和Stripe。允许商家跨渠道接受相同的钱包。 尽管如此，老牌企业仍然有机会以明智的并购策略与上述金融科技挑战者抗衡。 例如，美国运通(American Express) 最近宣布将收购数字借贷平台Kabbage，以增强其向小型企业的现金管理产品。

Footnotes:

脚注：

1. In fact, China is so far ahead of the curve in digital payments that it recently started rolling out a digital currency operated by its government-owned central bank that will gradually replace its fiat currency.

   实际上，中国远远领先于数字支付曲线，以至于它最近 开始推出 由其政府拥有的中央银行运营的数字货币，该数字货币将逐步取代其法定货币。

2. Usage of contactless cards has risen significantly in the U.S. in the past year as more issuers rolled out NFC-enabled cards when existing EMV cards expired. Talk about good timing!

   在过去的一年中，随着现有的EMV卡过期，越来越多的发行商推出支持NFC的卡，非接触式卡的使用已大大增加。 谈论好时机！

3. The upcoming App Clips will also facilitate more Apple Pay transactions in offline retail and QSR settings.

   即将发布的App Clips也将促进离线零售和QSR设置中的更多Apple Pay交易。

翻译自: https://medium.com/ipg-media-lab/the-long-lasting-impact-of-covid-19-on-digital-payments-40aa2bf4cb19