MasterCard Survey: European Consumers Say No to Cash for Holiday Spend (June 24, 2013)
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June 24, 2013
More Europeans are pulling out cards instead of cash while on holiday, according to new research from MasterCard. The online survey of 3,310 consumers in eight countries—Spain, Italy, Germany, Sweden, U.K., France, Poland and Ukraine—found that consumers prefer having their debit or credit cards on hand on holiday more than the rest of the year: 91 percent of them carry their cards while on holiday versus 60 percent at home and 53 percent of those questioned would like to pay by card more often when on vacation.
The main reasons Europeans pay by card on holiday are: convenience (65 percent), fear of cash being stolen (41 percent), security (38 percent), not having cash on hand (37 percent), speed (34 percent) and better tracking of expenses (30 percent). Europeans still prefer cash for smaller purchases, including postcards (85 percent), ice cream or snacks (84 percent), tips for the waiter (83 percent), taxis (77 percent) and souvenirs (61 percent).
MasterCard is following up its study with a “NoCash Summer” pan-European social media campaign to promote card usage. “Throughout Europe, NoCash pioneers will be challenged to use as little cash as possible, including for their smallest purchases,” said Jennifer Rademaker, head of core products Europe, MasterCard. “During the next few weeks, they will share photos, videos and messages about the reality and benefits of a world beyond cash on our brand new Tumblr blog. We have no doubt it will be fun and also eye-opening for everyone. The future of payments is now.”