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Pandemic Alters Spending Habits in APAC, Drives Rapid Shift to Emerging Payment Technologies: Mastercard New Payments Index
May, 11, 2021
APAC enthusiasm for QR codes, digital wallets and cryptocurrencies exceeds global averages
As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the
Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.
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