New Zealanders favour cashless payment over traditional methods

Moving closer to cashless society

According to Tech Day, New Zealanders are moving away from cash, favouring electronic cards and internet banking as digital wallets slowly phase out the use of cash. The findings from MasterCard’s Survey on Consumer Purchasing Priorities show a shift from cash and coins to online shopping and card transactions. The survey found that debit cards were the most popular choice for everyday expenses such as groceries, dining out, personal care goods and services. Retail shopping and household goods were most popularly paid for by credit card.

A spokesperson from Mastercard said, “The days of carrying cash are numbered and it’s clear that New Zealand is moving steadily towards becoming a cashless society.”

A SmartDebit spokesperson from the Surrey-based firm commented, “A move towards a cashless society has become more of a reality over the last few years with the introduction of various devices such as contactless technology and mobile payments. New Zealanders clearly understand the benefits of cashless transactions including saving time and convenience and being able to track exactly where money is spent. It is predicted that many countries will soon follow suit and move even closer to widespread cashless transactions.”

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