Given that banking services in one way or the other involve physical contact, these institutions are understandably affected as the coronavirus continues to cripple the global economy.
Capital One, an American bank holding company, announced on Monday morning that 12 of their branches in Louisiana, will be closed immediately in response to COVID-19. This move was taken after Capital One Financial Corp. (NYSE: COF) was notified Friday that one of its employees at one of its offices in Tysons has tested positive for the novel coronavirus.
According to the bank, the anonymous victim was last in the office on the 6th of march. The bank became aware of the diagnosis on Friday, after which they ordered the affected office to be closed immediately.
After that, the company is seen taking control and preventive measures by following recommended guidelines from the Centers for Disease Control and Prevention and other public health authorities to disinfect the space and common areas.
Furthermore, the bank explained their take on the issue, which has led to the temporary shut down of some branches. It further urged customers to take full advantage of its contactless transaction tools.
A section of the announcement reads:
“We also strongly encourage customers to use Capital One’s digital tools and other resources for self-service banking and around the clock account access. While we have not had a confirmed case in any of our Cafés or branches, we believe these are the right steps to take to maintain essential banking access while also helping prevent the spread of the virus and supporting the well-being of our customers, associates, and communities.”
Crypto Payments Can Stand Covid-19
Despite the bank being ranked 11th on the list of largest banks in the United States, showing how efficient and effective they must have been, the latest development indicates that they can struggle significantly if the coronavirus pandemic persists.
Meanwhile, cryptocurrencies, just like other contactless payment systems, offer a viable alternative. They do not involve any physical contact when users are making transactions.
At the same time, being digital means that cryptocurrencies cannot host the virus in the same way as fiat. Coinfomania recently reported that infected notes are being burned or quarantined in South Korea and the United States to minimize the spread.