A new report and payments index by payments giant, MasterCard, has revealed the huge growth in cryptocurrency interest with 67% of millenials considering their use across Africa over the past one year.
The MasterCard index, which was conducted across 18 markets around the world, has revealed the rising and consumer appetite for new, fast, and flexible digital experiences.
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Below are some stats from the report:
- 93% of people will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year
- Nearly two-thirds of respondents (63%) agree they have tried a new payment method they would not have tried under normal circumstances, but the pandemic has galvanized people to try flexible new payment options
- In Q1, 2021 alone, Mastercard saw 1 billion more contactless transactions as compared to the same period of 2020, with particular momentum in emerging contactless markets
- Nearly 7 in 10 consumers anticipating using a contactless card this year in U.S. and Brazil – contactless penetration in the two markets combined grew by nearly 3x year-over-year
- 4 in 10 people (40%) across North America, Latin America and the Caribbean, the Middle East and Africa, and Asia Pacific say they plan to use cryptocurrency in the next year
- More than half (67%) of millenials in the Middle East and Africa are especially engaged in the cryptocurrency conversation and are more open to using cryptocurrency than they were a year ago
- 77% of Millennials are interested in learning more about cryptocurrency, while 75% agree they would use cryptocurrency if they understood it better
Among the African countries included in the survey are:
RECOMMENDED READING: Are You an African Crypto Firm or Fintech? MasterCard Now has a Simplified Crypto Card Program and is Onboarding Partners
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