How quarantine changed the payment habits of Europeans


Eight out of ten MasterCard payments in European countries are non-contact (78%)

More and more users in Europe refuse cash in favor of convenient and quick payments with one touch. Coronovirus played an important role in this. Thus, according to a MasterCard survey, nearly half of Europeans (42%) began using less cash during the COVID-19 epidemic, and 17% abandoned cash altogether. At the same time, about eight out of ten payments with MasterCard cards in European countries are non-contact (78%).

Most MasterCard users in Europe (89%) say it was very easy for them to switch to contactless payments. For 64% of users, contactless payment has now become the main mode of payment in the store, and 40% of respondents more often chose contactless cards from existing ones in their wallet. More than a quarter of respondents use smartphones for contactless payment (28%), and 4% pay with NFC devices. 73% of Europeans say they will use contactless technology after quarantine. These results were shown by a MasterCard study conducted in Europe in April 2020.

Yuri Batakhin
Vice President of Business Development MasterCard in Ukraine and Moldova

If we talk about transaction figures, the number of contactless payments with gadgets with MasterCard in Europe has doubled compared to the same period last year (an increase from 7% to 14%). Nevertheless, contactless payments by plastic are the most popular – their share is 86% of all contactless operations.

For users who pay for noncontact everyday purchases, cleanliness (81%) and simplicity (85%) are the main arguments for a complete transition to one-touch payment. And 64% of the respondents started contacting, because it is safe. Often, Europeans pay noncontact purchases at grocery stores (87%), as well as other retail (48%) and pharmacies (54%).

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According to the National Bank, the total number of card transactions in Ukraine exceeded 1.3 billion for the first quarter of 2020, and the amount – 920.5 million USD. Compared to the same period in 2019, the number of such operations increased by 24.5%, and by the amount – 15.6%.

Read: Ukrainians have simplified the withdrawal of cash from the card at the box office


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