Post-Covid Prospects: Touchless Payments

Editor’s Note. This is the first in a series of reports looking at companies that may be positively affected by the Corona virus and its’ impact on the American economy and society.

The first few months of the COVID-19 pandemic our family and most Americans treated every public item as if it were a handshake with the monkey from the movie Outbreak.  Groceries were collected with rubber gloves and left to sit in our garage for days before we felt comfortable bringing the shelf-stable stuff in the house. The threat was everywhere.

And while we have greatly reduced our fear of catching Covid from surfaces we aren’t where we were before the pandemic.  I was never a germophobe but as a chronic face-toucher (my own, thank you) I carried Purell on my person for those moments in the gym or grocery store. I preferred a good fist bump to a balmy handshake for years.

So, when cashless payment systems like Square (SQ) became omnipresent it made sense. Years ago, during simple flu season it made sense that we use a fairly sterile plastic card instead of handing each other fabric dollars.  Now, as Covid has obviated the exchange of diseases through common items (and aerosols) it appears that Square’s surge is trend not fad.  We are moving toward a cashless society.

Think about it… when was the last time you had change in your pocket.

With Square’s market share and leadership it seems poised to be the go-to cashless payment system though PayPal’s (PYPL) Venmo has an exceedingly large customer base.

About StockLab:

StockLab is powered by professional journalists with two-decades of experience in public markets. Each subject company that StockLab is contracted to cover is examined through a macro/micro approach that reviews larger events for its primary industry and how it might affect future market opportunities. First tier sources will be studied, cited, and offered to readers. Additionally, material events by the subject company will be noted for the readers’ consideration. We often rely on industry experts, Forbes, Bloomberg, The Wall Street Journal and other periodicals of established pedigree which have no relationship to the covered company whatsoever.

Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. StockLab is the property of Integrity Media Inc. (IMI). IMI provides no assurance as to the subject company’s plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. The subject company has reviewed and approved this report. This report is neither a solicitation to buy nor offer to sell securities and is for informational purposes only and shouldn’t be used as basis for investment decisions. IMI isn’t an investment advisor, analyst or licensed broker dealer and this report isn’t investment advice. IMI has NOT been paid $1,500 for this report but does hold 1000 shares of Square.