Australia: New Zealand consumers move away from cash as digital and contactless payments rise

The proportion of New Zealanders carrying cash is on the decline with more than two-thirds of the population stating they do not carry cash at all. Cards are now the preferred method of payment among New Zealanders, with a survey conducted by Mastercard finding that over 90% of New Zealanders preferred to pay via cards.

Peter Chisnall, Country Manager for Mastercard’s New Zealand and the Pacific Islands, stated, “New Zealanders are embracing ways to pay that are fast, convenient and secure. Acceptance of card payments, and increasingly contactless payments, means New Zealanders are less reliant on cash for everyday transactions.”

Although New Zealanders are embracing more emerging technologies, like mobile payments, there is still a long way to go before they become mainstream like cards. RFi Group data shows there is high awareness of mobile payment methods however actual usage is still low. For example, 62% of New Zealanders are aware of contactless payment via mobile phones on payment terminals, however, only 13% of these respondents actually use the payment method. The data illustrates that there is significant work to show the advantages of new payment technology for both consumers and retailers.

Source: RFi Group New Zealand Payments Program April 2017

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