MasterCard Survey Shows Consumers Worldwide See Dawn of Cashless Society Ahead
MasterCard Worldwide today announced the issuance of the 20 millionth MasterCard® PayPass™ device globally. PayPass is now accepted at more than 80,000 merchants in 20 countries. This latest milestone is consistent with the results of a Global Cash Usage Survey conducted in 2007 by KRC Research and commissioned by MasterCard Worldwide, designed to gauge global attitudes towards the use of cash versus alternate payment methods as well as to determine consumer interest in using new technologies, such as contactless payment technology.
The MasterCard global survey conducted in 13 countries showed that a growing majority of consumers worldwide believe that one day there will be a cashless society – globally consumers agree that they do not like to carry large amounts of cash and their behaviors, such as unwillingness to wait in line for more than ten minutes for small purchases, are driving growth in cashless payments.