A new trend: cash is out of fashion!

[img_assist|nid=8107|title=|desc=|link=none|align=left|width=100|height=75] A prominent payment processor, MasterCard, has published its study on the popularity of cashless payment tools. The survey was based on 7,000 interviews in 12 countries located worldwide, including such countries as South Korea, Canada, Malaysia, China, Italy, France and Germany.

The results have shown that the most part of Australians and South Koreans try to escape paying  cash: on average 8 people out of 10 today use cash less frequently than 5 years ago. In other countries the situation is similar.  Approximately 9 of 10 Australians and New Zealanders give preference to cashless payment options. This index is up from the one of Singapore where “only” 6 out of 10 residents do not want to operate with great packs of bills. In the US the number of such users is 80%. Also it became known that 69% of Americans and almost half of Singaporean (45%) use less cash than they did before.

The reason for these changes is believed to be a convenience of cashless payment methods which are presented today in a wide range. According to the survey Australians prefer debit cards to cash and people of South Korea choose mobile banking.

Also according to statistics debit cards are mostly used by the young and old persons. And if the first ones use debit cards in view of their little experience, the older generation representatives favor debit cards because they don’t want to take out credit anymore.