Mastercard survey shows global surge in digital payments

Mastercard Inc. released a study showing consumers worldwide are using contactless and other digital payments at record levels and moving away from cash due to concerns about COVID-19.

The Mastercard research shows that nearly seven in 10 consumers globally expect to shift towards digital payment use on a permanent basis, while nearly half of consumers plan to reduce their use of cash, even after the pandemic threat subsides.

The report shows that 64% of consumers in Europe say that tap-and-go is their preferred payment method, while two-thirds of consumers in Latin America say they will use cash less often and 46% of consumers in the Asia Pacific region have reduced their cash use.

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