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BIS Estimated Pandemic Might Boost Global Digital Payment Revolution

Apr. 21, 2020

The new pandemic might change public payment habits, BIS Bulletins reported. Currently, the new pandemic has aroused unprecedented public concern about the spread of COVID-19 virus through cash. This concern could accelerate the digital payment revolution and popularization around the world and push global central banks to adjust their digital currency strategies.

        

BIS Estimated Pandemic Might Boost Global Digital Payment Revolution


It is understood that there has been a huge increase in the average number of searches relevant words like “coronavirus cash” on Google in the past 30 days. Several central banks have taken actions and measures to ease those concerns. The bank of Canada (BoC) has demanded the retailer to stop receiving cash. The Louvre museum in Paris has declared a ban on the use of cash during the pandemic. And India, Indonesia, and other countries have increased input in contactless payments.

 

In an effort to reduce the impact of a pandemic on people's daily lives, the world's leading payment platform Alipay has announced to build a one-stop digital lifestyle platform. As Alipay's strategic partner, Telpo has launched a series of digital devices to support the digital lifestyle platform. In virtue of online shopping + contactless delivery + offline consumption methods, Alipay and Telpo could build a multi-scene and new retail consumption scene, which will help merchants to create online and offline consumption channels, realize contactless payment and reduce infection risk.


BIS Estimated Pandemic Might Boost Global Digital Payment Revolution


TPS320 realize contactless payment and reduce infection risk


Telpo digital devices cover a digital payment, digital retail, digital security, digital transportation and other fields. As advanced "cloud + terminal" partners, Telpo can use its mature AI technology and R&D capabilities to provide self-service order, self-service checkout, QR code payment, face payment, face attendance, mobile law enforcement, the presidential election and so on scenario solutions. Telpo product solutions can effectively reduce cash using and personnel gather, and assist in epidemic prevention and control work.


Under the impact of the pandemic, many countries are likely to push hard for digital payment reform and development so as to reduce virus spreads source and ease public fears. Telpo, which has already serviced for more than 100 countries, will continue to take the biggest use of its advantages and help global countries overcome this war.


 BIS Estimated Pandemic Might Boost Global Digital Payment Revolution

As Alipay's strategic partner, Telpo has launched FR Payment Terminal TPS989.


Tag: BIS, cash payment, digital payment revolution, digital lifestyle platform, Alipay, digital device 

Company Introduction: Telpo is solidly located in the smart terminal industry forefront as it sticks to technology-driven and market demand-oriented. With keen market insight, Telpo has developed smart payment, smart community, smart retail, smart restaurant, face recognition temperature measurement, government election, and other scene applications to build a "cloud + terminal" brand and complete solution.

Related Products: TPS320, TPS989

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