A new survey from major payment company Mastercard, published May 4, shows that interest in cryptocurrencies and the adoption of electronic payment instruments continues to grow.
Mastercard conducted a survey of 15,569 participants from 18 different countries. The payment company concludes in the report, titled “Mastercard New Payments Index: Consumer Appetite for Digital Payments Takes Off,” the following findings:
Mastercard reports that consumer spending patterns have changed in 2020 due to the corona pandemic. Due to the pandemic, no fewer than 93% of the respondents report that they are considering using a new payment method such as crypto, biometrics or QR code.
63% of respondents admit that under normal circumstances they would not try a new payment method, but that the pandemic is prompting them. This is accompanied by a new expectation that companies and shops will also offer alternative payment methods. More than half of the respondents say that in the future they will avoid companies that do not accept any form of electronic payment.
The corona pandemic saw the use of contactless payment options soar and will continue in 2021, Mastercard says. Mastercard already saw a billion more contactless transactions in the first quarter of 2021 compared to the same period of 2020.71% of participants say they expect to use cash less often in the future.
Mastercard further reports that the global tax on crypto continues to increase. 40% of the respondents indicate that they plan to use crypto next year. Especially among millennials (generation Y), interest in crypto is increasing rapidly. 67% admit that they are now more open to crypto than a year ago. 77% say they want to learn more about crypto and 75% admit that they would use crypto if they understood it better.