Mastercard has conducted this study across 15 markets worldwide
Half of consumers to use cash less after the pandemic – Mastercard. Source: pixabay.com
According to research, nearly 7 in 10 consumers are likely to permanently shift to digital payments, whereas half of them will use less cash after the pandemic.
Along with that, 46% of respondents in the Asia Pacific say they are using cash not that often, while 2/3 of Latin American consumers are using cash less or not at all.
As to Europe, 64% of respondents say tap and pay is now their preferred way to pay in-store.
The report has also found that e-commerce has reached new heights. For instance, the US e-commerce spending grew by 93% year-over-year in May. And in April and May, e-commerce as a share of total retail sales reached 33% in the UK.
We’ve reported that Crédit Agricole Bank Polska has announced the launch of a cash-free banking branch in Warsaw. The new branch doesn’t have a counter for depositing or withdrawing cash. Customers can carry out such transactions in a self-service area fitted out with ATMs.
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