40% will use crypto for payments over this year, says Mastercard

05 May 2021

A survey carried out by Mastercard reveals four in 10 people are planning to use cryptocurrencies for payments over the coming year.

The poll, called ‘Consumer Appetite for Digital Payments Takes Off’, surveyed over 15,500 people in 18 countries.

The findings showed millennials are particularly engaged in digital currencies, with 67% saying they are more open to using crypto than they were this time last year.

Furthermore, the report showed 77% of millennials want to learn more about crypto, whilst 75% said they would use cryptocurrencies if they had a better understanding of them, Cointelegraph reports.

Back in February, Mastercard announced it would support crypto payments to the close to one billion users for use at more than 30 million businesses.

The 40% figure for cryptocurrency usage covered all ages polled, with respondents located in North America, Latin America, the Middle East, Africa, and the Asia Pacific.
According to Mastercard, although consumer interest in “floating cryptocurrencies” such as Bitcoin is high, work must still be undertaken to ensure consumer choice, protection, and regulatory compliance, says the Cointelegraph report.
In addition, Mastercard said 93% of people will consider using at least one emerging payment method, including crypto, biometrics, contactless, or QR code over the next year.
Chief Product Officer at MasterCard, Craig Vosburg said all payment means, including cryptocurrencies, must be enabled going forward: “As we look ahead, we need to continue to enable all choices, both in-store and online, to shape the fabric of commerce and make the digital economy work for everyone.”