One in five Romanians uses their card for purchases of under RON 10, according to a MasterCard study, which analyzed cardholders’ behavior in Romania. The most frequent card payments are low-value transactions, with three quarters of the respondents stating they usually use their card for purchases of under RON 75.
The study also revealed that 4 out of 5 Romanians are keen on using their cards, as they avoid carrying cash, whereas 67% of the respondents feel at ease when paying by card.
According to the study, cards are increasingly used for daily purchases. Last year, in December, the number of those they pay by card on a daily basis was 45% higher than in March 2015. The result is encouraging and comes to strengthen the growth in terms of number of cardholders locally, which reached 95% among adults who are Internet users living in the urban areas of Romania.
The survey says that contactless payments are becoming one of the favored payment methods for cardholders. During March-December 2015, the percentage of the respondents saying they pay contactless increased by 160%. As such, in December 2015, 4 out of 10 respondents were familiar with contactless payments, confirming the growth in popularity of this particular payment solution.
“MasterCard campaigns in Romania in 2015 revealed the benefits of card payments, both for consumers and for the economy, overall, and we are delighted to see their results – the growth rates are booming, indicating that more and more Romanians adopt card payments. We have concentrated our efforts on financial education and we will continue to do so hereon, simultaneously with implementing innovations that further make paying by card ever more simple, convenient and secure” has stated Cosmin Vladimirescu, General Manager, Romania, MasterCard.
According to the analysis, 12% of the respondents claimed they either do not know how or are unused to paying by card.
The low levels of card penetration on the local market can be largely attributed to the poor acceptance infrastructure, with 41% of the respondents naming this reason above all others.
The study has also analyzed the Romanian consumers’ perception toward online payment, and has highlighted that most of the respondents are fully aware of the benefits that derive from e-shopping. Therefore, 57% of the respondents have leaned towards the accessibility of online shopping, whenever and from wherever they want. On the other hand, data security and e-merchant trust, although on a slight drop, are still the main causes of concerns for Romanian card users when purchasing online.
The study, based on Omnibus studies, has been conducted by iSense Solutions local research company for MasterCard, in March and December 2015, in the urban environment, among internet users aged 18+.