Leading CEO adds weight to Government Coronavirus Impact Data

1 year ago

Shane O’Hara, Chief Executive of Paymentology, one of the world’s leading processors of card payments, has endorsed the findings of the Government’s data outputs today on the social and economic impact of the coronavirus, which has noted that 85% of people have not left their home in the past week except for essential purposes.

The Paymentology technology tracks where consumers are using their cards and for what purpose.

“The tracking that we have been doing over the past six weeks absolutely aligns to the Government’s data release today. Just in the last two weeks the lockdown has seen online use of cards increase by 60%, whilst non online use has dropped by 17%,” says Shane O’Hara.

But he forecasts that the trend may not just be temporary either. “There has been a steady upward trend of online use since the start of the year. It is quite likely that the spike we have seen in the past two weeks will continue whilst the lockdown remains, and then settle at a new high,” he says, “ Experience tells us that once a consumer starts online shopping, they generally continue doing so.”

Notes to Editors

Details of Paymentology data available from:

Eneritz Corral

Marketing Manager

07980578423

Eneritz.Corral@paymentology.com

Government data report available at:https://www.ons.gov.uk/peoplepopulationandcommunity/healthandsocialcare/healthandwellbeing/bulletins/coronavirusandthesocialimpactsongreatbritain/23april2020#main-points



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About Paymentology

Paymentology runs multiple issuer payment card processing platforms across the world, spanning Mastercard, Visa and UnionPay networks. We are recognised as the leading innovator in the sector. We specialise in: Replacing legacy Issuer card processing, Provision of cloud & data centre based processing, Direct transaction injection into bank GL, Delivery of rich card spend datasets to bank, Enablement of very latest cardholder spend controls, and Support of Debit, Credit and Pre-Paid card programmes.