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Mastercard World 18 Countries Survey: Corona Surgery Soars Interest in Cryptocurrencies and Electronic Money


Mastercard questionnaire

Mastercard, a major payment company, released the results of a questionnaire on crypto assets (virtual currency) on the 4th. It was found that cryptocurrency payments are also popular among young people (millennials) who were born after 1981 and reached adulthood after 2000.

The survey, which MasterCard surveyed on online payments from February 26th to March 10th, was answered by more than 15,000 consumers in 18 countries around the world.

Strong tailwind for digital payments

The questionnaire revealed that due to the spread of the new coronavirus infection, electronic money (contactless payment) that can be exchanged without directly touching cash and e-commerce payment that can be bought and sold online have become mainstream.

63% of respondents said that the impact of the new corona has reduced their resistance to new payment methods, and 67% of respondents said they were “more active in using cryptocurrencies than they were a year ago.” It increased. “

In addition, 77% of millennials said they would like to know more about cryptocurrencies. 75% said, “If you can understand cryptocurrencies better, you will actually use them.”

Craig Vosburg, CPO of Mastercard, commented, “The pandemic of the new coronavirus may have forced us to have different values ​​and ways of thinking.” As part of infection prevention measures, contactless payments such as electronic money have rapidly expanded, and the share of this field has increased by 50% worldwide annually.

Data by region

By region, 40% of respondents said they would use cryptocurrencies within the next year in North America, Latin America, the Caribbean, the Middle East, Africa and Asia Pacific, excluding Europe. Respondents, especially those living in the Middle East and Africa, said they have been open to cryptocurrencies over the past year.

In addition to virtual currencies, it was introduced that next-generation payments such as biometrics and QR code payments are becoming more popular.

In 2021, Dogecoin and GameStop have been attracting attention, and some say that investment apps such as Robin Hood are lowering the barriers to entry into the financial markets.

In a February survey conducted by the crypto exchange bitFlyer in Japan and the United States, 82% of US respondents said they were investing and 76% said they had a positive image of cryptocurrencies. In contrast, 69% of Japanese respondents said they did not invest, and only 22% had a positive image.

In addition, Nigeria ranked first in the data on the penetration rate of virtual currencies released by the data company Statista. Turkey was fourth from the Middle East.

In the Middle East and Africa, there are many cases where legal tender does not function effectively due to inflation due to the deterioration of the domestic economy. Cryptocurrencies are becoming more widespread in Iran, which is subject to economic sanctions from the United States.

Relation:Turkey and crypto exchanges are also subject to AML / CFT regulations


Author: Noah Sakamaki
Reference: Mastercard

Images used under Shutterstock license
“Cryptocurrency” means “cryptographic assets”

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