Potentials of traditional cash metal coins versus digital contactless payment in the time of coronavirus pandemic

Abstract

This paper addresses the challenges associated to the strength of potential for payment with traditional metal cash and paper money versus a non-cash method of payment in the era of the COVID 19 pandemic in the world and our country. The pandemic served to accelerate the contactless method of payment, because payment without contact is now not only a convenience, but a necessity. Before the pandemic in Europe, cash accounted for close to half of the payments, and in just a few weeks of the COVID 19 pandemic, it fell by 10 percent. Concepts that have so far preferred cash were definitely compromised during the pandemic crisis, and the pandemic is actually the strongest marketing of digital contactless payment methods so far, through the dominant contactless style of money exchange in the world and Europe, as shown in the paper we have today. Some research studies described in the paper in form of the health adventages of mobile wallet payments, as opposed to the proven health-threatening cash and coin-based cash payment model, indicate that the end of the cash era is approaching, being primarily accelerated by the health risk of COVID 19 infection. Particularly interesting is the live study conducted in the area of the northern Kosovo and Metohija, presented in a form of a set of financial services offered by the Postal Savings Bank of the Kosovska Mitrovica branch office, and relation between the contactless and cash payment model, before and after the COVID 19 pandemic. Naturally, all of this is accompanied by significantly limited knowledge related to SARS Cov 2, better known as the current COVID 19 pandemic.

COVID-19 pandemic shopping experience in Saudi Arabia: scale development and validation for Muslim customers

“…Consequently, reducing the store's OT is a viable alternative for minimizing contact between individuals. The fast clearance at the billing counters during COVID-19 reduces the likelihood of covid exposure (Sharma et al , 2021); this is possible with the use of electronic money and the adaption of artificial intelligence which is very popular in the insurance sector (Zia and Kalia, 2022), as it does not consume time for exchanging cash (Matić et al , 2020).…”

“…Therefore, to minimize contact from person to person, limiting the store operating time (OT) is another practical option. The fast clearance at the billing counters during COVID-19 reduces the chances of covid exposure (Sharma et al, 2021); this is possible with the use of electronic money and the adaption of artificial intelligence which is very popular in the insurance sector (Zia and Kalia, 2022), as it does not consume time for exchanging cash and change (Mati c et al, 2020). Therefore, during the COVID-19 pandemic, this factor has been included to explain the SE and the following hypothesis has been formulated to test the impact of OT on PPSE: H3.…”

“…The closure of restrooms and unavailability of trial rooms are hindering the shopping activity and adding negatively to the SE. The absence of a fun factor has made retail shopping an unfavorable experience (Farrag et al, 2010) as open spaces during COVID-19 in malls provide a good place to spend time with friends and relatives (Mati c et al, 2020). Therefore, this factor has been included in the study related to SE during the COVID-19 pandemic and the following hypothesis has been formulated to test the impact of entertainment venues (EV) on PPSE: H4.…”