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Published in TZ Latest News 22 December, 2021 by The TZ Newswire Staff

Fed: Pandemic Caused In-Person Card Payments to Drop by $11.7B in 2020

In a report released Wednesday (Dec. 22), the Federal Reserve said that payment behavior saw a massive, pandemic-driven shift in 2020.

As in-person commerce dwindled, in-person card payments also fell. As a result, there were around 11.7 billion fewer payments made, which is the first one-year decline of in-person payments in the Fed’s data.

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