It’s still early to assess the consequences of the COVID-19 pandemic, since the real consequences of such phenomena are usually evaluated only in the long term, Visa Regional Manager for the Caucasus Region Christina Doros told Trend.
"The current reality is an adequate response to a situation that in a short time has changed the lifestyle of millions of people. At the same time, some businesses are forced to greatly reduce their activities, while others are adapting to new conditions and show effective results," Doros said.
"It’s logical to assume that measures taken in various countries have a serious impact on the usual life of people. The development of e-trade is expected to intensify. Presently, customer behavior is changing by eyes. Many people are experiencing online payments and purchases for the first time," she said.
Doros also expressed confidence that after the crisis the trend will continue, and for many entrepreneurs it will become an impetus for development in a new direction.
She noted that the company continues to support and develop online payments and mobile channels.
"It can currently be predicted that the transition of businesses and entrepreneurs to e-trade, online services and remote work will become more relevant. Most likely, these trends will remain with us also when the situation stabilizes," added the regional manager.
As for real payments, consumers will increasingly rely on secure payment methods with less physical contact, such as contactless and mobile payments, Doros noted.