Emerging payment methods are gaining traction among consumers, according to a Mastercard survey. Cryptocurrency payments are the main among them.
According to the Mastercard New Payments Index, 93% of consumers are considering using pop-up payments next year.
In addition to contactless payments, These include biometrics, QR codes, and cryptocurrencies. The survey had 15,569 respondents from 18 countries in four world regions, although Europe was notably absent.
Increased interest in payments with cryptocurrencies
Among the other emerging payment methods, the survey highlighted a particular growing interest in the use of cryptocurrencies. According to the survey, 40% of those surveyed said they plan to use cryptocurrency next year.
This figure rose considerably among the youngest respondents, especially in the Middle East and Asia. In these regions, 67% of millennials said they were more open to using cryptocurrencies than a year ago.
What’s more, 77% of millennials worldwide said they are interested in learning more about cryptocurrencies. Meanwhile, 75% agree that they would use cryptocurrencies if they understood them better.
Payments with Bitcoin
Mastercard Start Path program invests in FinTech startups
To make emerging payment methods even easier, Mastercard has added six other fintech startups to its Start Path program.
In addition to facilitating payments, these startups aim to accelerate integration into the digital economy.
As part of the incubation program, startups will benefit from Mastercard resources to scale their businesses.
While all seek to empower those who are generally not served by traditional finance, one intends to use blockchain technology.
Founded in 2017, Moeda Seeds is using blockchain technology to serve “the unbanked and unbanked population in Brazil”.
It allows users to accumulate social impact points by using its platform, which can then contribute to sustainable development goals.
In addition to assessing interest in crypto payments and facilitating startups using blockchain, Mastercard has also started to integrate cryptocurrencies.
Last month, Mastercard launched the first cryptocurrency “rewards” card, in partnership with US exchange Gemini.
Card users they can receive up to 3% in Bitcoin (BTC) or other cryptocurrencies on their purchases.
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