Contactless payment is rapidly becoming a part of Romanian’s shopping routine. Last year, the expenditure through MasterCard and Maestro cards on domestic market has grown tenfold, year-on-year, according to MasterCard’s data, a press release informs.
The drive toward this payment method is evident given that the number of contactless transactions has spectacularly grown by 636 percent.
“Romania has one of the largest growth rates in Central and Eastern Europe in terms of contactless transactions does not only point to the potential for developing this segment, it also shows an acceleration in reducing the gap between ourselves and more developed markets, where the contactless payment method is, indeed, a normal gesture,” Cosmin Vladimirescu, General Manager, MasterCard Romania stated.
The average ticket of a contactless transaction in Romania stood at some RON 60 last year. By comparison, the average value of a card transaction in Romania stands at circa RON 145, according to the Central Bank’s data.
The shift to contactless is even more evident when taking into consideration the number of MasterCard or Maestro contactless active cards, which has grown sixfold when compared to 2014.
As for Europeans, they continue to opt for contactless technology when making payments, with the total number of MasterCard and Maestro processed transactions passing the 1 billion mark in 2015 – an increase of 150 percent from 2014. Already in Europe, on average, 13 percent of in-store transactions processed by MasterCard in Q4 2015 were contactless.
New data reveal the number of cards, mobile phones or other devices tapping soared by 121 percent, and the total MasterCard and Maestro spend on contactless transactions was up by 183 percent year on year. Data also shows the number of contactless cards and devices issued to consumers increased by 50 percent in 2015.
The results are telling, supporting consumers’ increasingly positive attitudes towards contactless payments, which offer speed and convenience, and enhance the overall shopping experience. Also, the contactless payments offer a safer alternative to cash, providing consumers with the added benefit of state-of-the-art multi-layered security protection.