MasterCard survey: 40% of people plan to use cryptocurrency to pay next year

According to a survey by credit card giant MasterCard, 40% of people plan to use cryptocurrency to pay next year.

The survey was released on May 4, entitled “Consumer Appetite for Digital Payments Takes Off”, with more than 15,500 respondents from 18 countries.

The survey shows that millennials are particularly keen on cryptocurrency, and more than two-thirds (67%) of them believe they are more willing to use cryptocurrency than a year ago. In addition, 77% of millennials are interested in learning more about cryptocurrencies, while 75% believe that if they understand Crypto assets better, they will use Crypto assets.

The U.S. Census Bureau classifies millennials as those born between 1982 and 2000, which means that their age range will be between 21 and 39 in 2021.

The action to expand the use of cryptocurrency has begun. In mid-February, MasterCard announced that it would support its nearly 1 billion users to use Crypto assets to pay for more than 30 million merchants.

40% of respondents who plan to use cryptocurrency to pay next year cover all age groups. These respondents come from North America, Latin America, the Middle East, Africa, and the Asia-Pacific region.

MasterCard stated that although consumers are very interested in “volatile cryptocurrencies” such as Bitcoin, they still need to work hard to ensure consumers’ payment choices and regulatory compliance, and to protect consumers.

The report also pointed out that the covid-19 pneumonia pandemic has changed people’s views on Crypto payments. The survey results show that 93% of people will consider using at least one emerging payment method next year, such as cryptocurrency, biometric technology, and contactless payment. Or QR code.

Craig Vosburg, Chief Product Officer of MasterCard, stated that the company will need to support all payment methods in the future, including cryptocurrencies:

“Looking forward, we need to continue to support all payment options, whether it is physical stores or online shopping, to shape the business structure and make the Crypto economy serve everyone.”

On May 3, Cointelegraph reported that the payment giant launched an accelerator project for fintech startups, blockchain-based payment companies, etc.

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