Leading CEO adds weight to Government Coronavirus Impact Data
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:
Government data report available at: https://www.ons.gov.uk/peoplepopulationandcommunity/healthandsocialcare/healthandwellbeing/bulletins/coronavirusandthesocialimpactsongreatbritain/23april2020#main-points