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40% plan to use crypto for payments next year: Mastercard survey

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A survey by credit card giant Mastercard found that four in ten people plan to use cryptocurrency for payments over the next year.

The survey, published on May 4 and titled ‘Consumer appetite for digital payments takes off‘, interviewed more than 15,500 people in 18 countries.

He revealed that millennials are particularly engaged in cryptocurrency, with more than two-thirds, or 67%, agreeing that they are more open to using cryptocurrency than they are. ‘were a year ago. Additionally, he indicated that 77% of millennials want to learn more about cryptocurrency, while 75% agree that they would use digital assets if they understood them better.

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Millennials are classified by the US Census Bureau as people born between 1982 and 2000, which means their age range in 2021 is between 21 and 39 years old.

The decision to expand access to cryptocurrencies has already started – in mid-February, Mastercard announced that it would support digital asset payments for its nearly one billion users to use at over 30 million traders.

The 40% figure for general crypto use covered all ages studied, with respondents from North America, Latin America, the Middle East, Africa and Asia-Pacific.

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Mastercard said that while consumer interest in “floating cryptocurrencies” such as Bitcoin is high, efforts are still needed to ensure consumer choice, protection and regulatory compliance.

The pandemic has changed the way people think about digital payments, he continued, adding that the results show that 93% of people will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless or QR code, in the next one. year.

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Craig Vosburg, chief product officer at MasterCard, said the company needs to enable all payment methods, including cryptocurrencies, in the future:

“As we look to the future, we must continue to enable all choices, both in-store and online, to shape the fabric of commerce and make the digital economy work for everyone. “

On May 3, UKTN reported that the payments giant had launched an acceleration program for fintech startups, including blockchain-based payment companies, among other things.

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