using a mobile wallet to shop on a smatphone Source: Shutterstock.

The use of digital payments continues to surge due to COVID-19 as large portions of the population remain under stay-at-home orders, a scenario that has created opportunities for credit unions to promote specific products catering to current buying habits.

Card-not-present transactions were up 35% in the first half of May compared to the same period a year ago, while in-person transactions using cards were down 33%, according to a financial analysis from CO-OP Financial Services. A similar trend was seen in year-over-year data from April, when card-not-present transactions increased 30% while card-present spending decreased by 41%.

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Nate Robson

Nate Robson is the U.S. Supreme Court and regulatory editor. Contact him at [email protected]. On Twitter: @Nate_Robson1.

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