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Moving to a no-contact payment model

During a pandemic, the circulation of cash poses added risks for contamination. As a result, consumer demand for contactless payments is rising sharply. Statistics company Statista estimates that total digital payment transactions will reach nearly $4.8 million in 2020—a year-over-year increase of more than 15 percent.

Going cashless can help meet the growing demand for contactless payments and keep your employees and customers safe. Here are some tips for eliminating cash from your operation:

  1. Think tech, not touch.

    Thankfully, there are plenty of contactless payment options. Assess the available solutions to determine which is right for your business. No matter which you choose, you’ll be lowering the chances of virus spread. Here are some popular options:
    • “Tap and go” card terminals
      These terminals allow customers to use their debit or credit cards with minimal contact. We offer our own solution through Chase for Business . 

    • Digital payments
      Digital wallets, like Apple Pay®and Google Pay®, let customers use their mobile devices to pay at terminals marked with a wireless symbol. 

    • Person-to-person payment apps
      Apps like Venmo and Chase QuickPay®with Zelle®let you pay other people—often with just their email or mobile number.

    • Online payments
      For even more distance, many businesses are embracing online-only commerce.
  2. Educate your customers.

    Cashless payment solutions only work if people use them. Once you’ve determined the best payment option for your business, the next step is getting your customers on board.

    Make sure customers understand the payment options available to them. Post clear signage at your point of sale. Send emails. Use social media. Be sure that your communications reinforce the customer benefits of your new processes: Cashless payments are safe and convenient, and they can even help move lines faster at the register!

  3. Take it further.

    Cash isn’t the only paper-based product that can pose a threat. And as COVID-19 has been proven to linger on paper and cardboard surfaces, it’s important to think about decreasing all possible sources of contamination. Common items like receipts, checks, physical mail and invoices can all go digital.

    Chase customers can take advantage of many different ways to pay and get paid. Chase QuickPay®, Chase OnlineSM Bill Pay ACH and wire transfers are just some of your options.

    You can also explore all-in-one invoicing and accounting platforms like FreshBooks. These systems can help make invoicing reminders and payment collection hassle-free—and reduce risky physical contact. FreshBooks is a Chase partner, but there are a lot of options out there. These solutions are bound to make doing business simpler and safer.


This article is only for educational purposes, and the reader should determine what fraud protection is best for their business and their business accounts.

Statista Inc. is a subsidiary company of the Statista GmbH, Johannes-Brahms-Platz 1, Hamburg, Germany.

Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iPad, iPhone, iTunes, Mac, Safari and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. iPad is a trademark of Apple Inc.
Google Pay is a trademark of Google LLC.
Venmo is a service of PayPal, Inc., a licensed provider of money transfer services.
FreshBooks is a trademark of FreshBooks.
Chase QuickPay® with Zelle®: Enrollment in Chase QuickPay® with Zelle® is required. Both parties need a U.S. checking account enrolled with Zelle; only one needs an eligible Chase account. Funds are typically made available in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle. Enroll on the Chase Mobile app or Chase OnlineSM. Limitations may apply.
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Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.Online Bill Payment: You must be enrolled in Chase OnlineSM to activate and use Online Bill Payment. Online Bill Payment service is free of charge when you designate a qualified account as your Primary Account for Online Bill Payment. A qualified account includes any Chase personal or business checking account except Chase Customized Checking, which will be charged $5 per month for Online Bill Payment Service.
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