“The Federal Reserve on Wednesday issued an update to the Federal Reserve Payments Study (FRPS) to include findings from recent survey data. The findings highlight changes in card payments and increased adoption of innovative payment methods following the emergence of COVID-19. For example, the recent data show that the number and value of both in-person and remote (e.g., online, over the phone) card payments grew in 2019, broadly in line with recent trends. The year 2020, by contrast, saw an unprecedented decline of 11.7 billion, or almost 13 percent, in the number of in-person card payments accompanied by a similarly unprecedented surge of 8.7 billion, or almost 24 percent, in the number of remote card payments.”