February 11, 2016 -
New research from MasterCard shows New Zealanders are embracing digital payments with 49% expecting mobile devices, biometrics and wearables to replace cash in ten years’ time, according to a report in NetGuide.
In fact, 36% of consumers surveyed said they could live without cash and only use emerging payment technologies in just a few years’ time and 41% of people say they would already consider using contactless technology on their smartphone.
When asked about new payment technologies, 44% think mobile payments will take off next followed by biometrics including facial recognition and fingerprints and wearable technology including smartwatches.
“New Zealanders are early adopters of technology and are increasingly seeking fast, convenient and secure ways to pay,” says Peter Chisnall, MasterCard New Zealand country manager. “Retailers who are offering new technologies such as contactless payments are finding it a fast, reliable and easy way for customers to pay and provides a positive customer experience.”