Cryptocurrency Gains Ground On Payment Method By Millennials In Mastercard Study

7 May 2021 — The Mastercard New Payments Index conducted across 18 markets around the world, shows 93% of people will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year.

The pandemic has galvanised people to try flexible new payment options with nearly two-thirds of respondents (63%) agree they have tried a new payment method they would not have tried under normal circumstances.

As global interest in cryptocurrencies as a payment method continues to accelerate, 4 in 10 people (40%) across North America, Latin America and the Caribbean, the Middle East and Africa, and Asia Pacific say they plan to use cryptocurrency in the next year.

Millennials globally and those in the Middle East and Africa are especially engaged in the cryptocurrency conversation, with more than half (67%) agreeing they are more open to using cryptocurrency than they were a year ago.

77% are interested in learning more about cryptocurrency while 75% agree they would use cryptocurrency if they understood it better.

71% say they expect to use cash less moving forward and 84% saying that they expect to make purchases when they want and how they want.

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